Stan Johnson Company Arranges Sale of Sarasota, Florida Warehouse for $9.5 Million
Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a single-tenant, 60,000-square-foot build-to-suit warehouse in Sarasota, Florida. The property, located at 6101 Sawyer Loop Road, was fully occupied by Hajoca Corporation, a wholesale distribution company that offers plumbing, heating, and industrial supplies to commercial and residential customers. The asset traded for approximately $9.5 million at a 7.00 percent cap rate.
Stan Johnson Company’s Gill Warner represented both parties during the transaction. The seller was a Florida-based developer, and the property was purchased by a group of foreign individuals based in Canada.
“The newly constructed building was completed this summer, and the 10-year, double net lease commenced at delivery,” said Warner, Senior Director in Stan Johnson Company’s Tulsa, Oklahoma office. “The high-quality construction, long-term net lease, and desirable tenant made this a very attractive investment.”
The property sits on 6.6 acres and is located in the heart of a large industrial area in South Sarasota. The initial building includes a mixture of warehouse and office/showroom space, and it offers room to expand the facility by another 10,000 square feet in the future.
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.