Stan Johnson Company Arranges Sale of Newly Constructed Dialysis Center in California's South Bay for $7.7 Million
Tulsa, Oklahoma, May 7, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a freestanding, single-tenant medical facility leased to a DaVita affiliate and guaranteed by DaVita, Inc. The recently constructed 11,462-square-foot building is located at 20920 Chico Street in Carson, California and included a long-term lease with attractive rental increases every five years and multiple options to renew beyond the primary term.
The property was sold by Genesis KC Development LLC in late April 2019, and the seller was exclusively represented by Scott Briggs, Kelly Largent, and Sarah Martin of Stan Johnson Company.
“From start to finish, this was a successful transaction,” said Briggs, Director in Stan Johnson Company’s Tulsa office. “The project sold prior to broad marketing efforts and closed in an all-cash deal within 37 days of agreement. The result was outstanding as we were able to achieve a fantastic cap rate for dialysis clinics nationwide as well as medical sales in the South Bay.”
San Jose, California-based The Corotto Company Inc, purchased the asset for $7.7 million. They were represented by Martin Starr of ASU Commercial.
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.