Stan Johnson Company Arranges Sale of Newly Built Dollar General to Private Exchange Buyer from California
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a build-to-suit Dollar General located at 5269 Bridge Street Highway in Parks, Louisiana. The newly constructed property totals 9,026 square feet, and it was purchased by an individual investor based in Valley Village, California for $1.3 million. Ryan Roedersheimer of Stan Johnson Company represented the seller, a developer from Alexandria, Louisiana. The reported cap rate was 6.75 percent.
“We had strong interest in this asset, which presented an opportunity to select from multiple qualified investors, both local and out of state,” said Roedersheimer, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “Ultimately, we selected a California-based exchange buyer who brought a winning combination of price and terms that solidified them as the best trade partner. This was a very smooth transaction and one we enjoyed. All parties walked away extremely happy with the outcome.”
The newly built dollar store opened in summer 2020 and features a long-term triple net lease. The property sits on a one-acre parcel just 15 miles east of Lafayette, Louisiana.
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 $35 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.