Stan Johnson Company Arranges Off-Market Sale of Single-Tenant Government Office Buildings for $4.0 Million
Houston, Texas, June 28, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of 4201 Greenwood Drive, a single-tenant office building leased to the State of Texas and occupied by the Texas Department of Family & Protective Services. The 51,307-square-foot property is located in Corpus Christi, Texas, which is approximately 150 miles southeast of San Antonio.
The seller, a Texas-based developer, was represented by Brian Corriston, Associate Director in Stan Johnson Company’s Houston office.
“The biggest challenge we faced was to procure a highly qualified and capable investor to acquire the asset due to the short lease term remaining,” said Corriston. “Our experience and expertise in the government-leased investment space allowed us to accomplish that for our client.”
A group of individual investors based in the Midwest acquired the property in an off-market transaction. At the time of sale, less than one year of term remained on the lease. The property traded on June 21, 2019 for $4.0 million.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.