Stan Johnson Company Broker Sale of Freestanding Tractor Supply Company in Rome, Georgia
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a freestanding, junior box retail building leased to Tractor Supply Company. At 420 U.S. Highway 411, the property is located in Rome, Georgia, which is a rural suburb northwest of Atlanta. The building totals 19,097 square feet, and it was built in 2005 on nearly 8.0 acres of land. Mike Sladich, Joey Odom, Maggie Holmes, Mollie Alteri and Michael Watson of Stan Johnson Company represented the seller, Interwest Capital Corporation, an individual investor from La Jolla, California. The asset sold to a California-based private investor represented by Jamie Harrison at Touchstone Commercial Properties for an undisclosed price.
“Tractor Supply properties have been in high demand due to their continued success during quarantine as an essential retailer,” said Sladich, Senior Director and Partner in Stan Johnson Company’s Atlanta, Georgia office. “We solicited offers and interest from across the country, and the seller ultimately decided to move forward with an all-cash California-based investor in lieu of other offers that would have needed to secure financing. The cap rate we achieved is a great example of the continued interest we’ve seen for long-term, essential retailer-leased assets.”
The property traded at a 5.65 percent cap rate, which “is among the lowest rates we’ve seen for Tractor Supply assets that have sold in the last year,” added Sladich.
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.