Stan Johnson Company Arranges Sale of a Tennessee Whole Foods Market for $18.5 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a Whole Foods Market grocery store in Germantown, Tennessee. The 36,570-square-foot retail building is located at 7811 Poplar Avenue. Stan Johnson Company’s Pat Weibel represented the seller, a private equity group from Memphis, Tennessee. The asset was purchased by an undisclosed private buyer for $18.5 million at a 4.57 percent cap rate.
“The Whole Foods in Germantown benefited from a best-in-class operator and credit profile, while the location provided for the ideal demographic of a Whole Foods customer base,” said Weibel, Director in Stan Johnson Company’s Los Angeles, California office. “This asset was highly sought after, and we received multiple bids. Ultimately, a well-capitalized family office won the bidding, and the transaction was completed in near-record time, with a 90-day start to finish that even included a loan assumption.”
The single-tenant freestanding retail building was built in 2015 on 5.18 acres facing U.S. Route 72, which is a major thoroughfare in the area. It is neighbored by other prominent retailers including Kroger, Hobby Lobby, T.J. Maxx, and Starbucks, and is located in an eastern suburb of Memphis, Tennessee.
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.