Stan Johnson Company Arranges Sale of Amazon-Leased Facility for $23.0 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 106,000-square-foot distribution facility leased to Amazon. The property is located at 13133 34th Street North in Clearwater, Florida. Stan Johnson Company’s Craig Tomlinson, John Zimmerman and Rocco Driscoll represented the 1031 exchange buyer, a New Jersey-based syndicator. The seller, a private local partnership group, was represented by Bruce Vaughan of Vaughan Commercial, and the property traded for $23.0 million. The cap rate was not disclosed.
“Amazon has very tight location requirements, sometimes even within a zip code,” said Craig Tomlinson, Senior Director and Partner in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “In urban areas like Tampa, adaptive reuse is more common for their delivery stations. Our client is getting not only the hallmark industrial tenant, but a very flexible property in a Class A submarket.”
The property, originally built in 1980, was fully renovated in 2019 and is situated on 8.8 acres. The facility is adjacent to Macy’s operations center and Raymond James’ headquarters.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.