Stan Johnson Company Brokers 1031 Exchange Sale of Advance Auto Parts in Anniston, Alabama
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 105 Greenbrier Dear Road in Anniston, Alabama. The 7,488-square-foot retail building is fully leased to Advance Auto Parts. Stan Johnson Company’s Brian Lane and Emery Shane represented the seller, an individual investor based in California. Jeff Enck, also of Stan Johnson Company, represented the Georgia-based 1031 exchange buyer. The property traded for approximately $1.0 million reflecting a 7.01 percent cap rate.
“The purchaser acquired the property to complete a 1031 exchange out of an older multi-tenant property,” said Enck, Associate Director in Stan Johnson Company’s Atlanta, Georgia office. “They were looking for higher yield with low management responsibilities, so this property was an excellent fit.”
The property was constructed on 0.81 acres in 1997, and the tenant has been operating at this location for almost 10 years. At the time of sale, there were approximately five years of term remaining on the double net lease.
“The seller was a long-time client that was selling for estate purposes,” added Lane, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office.
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 and its affiliates provide 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 $40 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.