Stan Johnson Company Brokers 1031 Exchange Sale of Villages at Camp Creek in Atlanta, Georgia for $5.3 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 9,633-square-foot shopping center in Atlanta, Georgia. Located at 3530 Camp Creek Parkway, Villages at Camp Creek was 100 percent leased at the time of sale to five tenants. Jeff Enck of Stan Johnson Company represented the seller, a local private investor. The buyer, a group of individual investors from Georgia, purchased the asset for more than $5.3 million reflecting a 6.77 percent cap rate. Both parties were involved in 1031 exchanges.
“While most of the leases are short-term, the property has had no vacancy in over 10 years,” said Jeff Enck, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “We were pleased to close this transaction with a very strong 1031 exchange buyer.”
The property was originally built in 2005 on nearly 1.2 acres in southwest Atlanta. Tenants include Verizon Wireless and American Deli, among other service-oriented retailers. The center is shadow anchored by Camp Creek Marketplace, a 1.0-million-square-foot retail center anchored by Lowe’s, BJ’s Wholesale Club, Old Navy and many other national retailers.
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 $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.