Stan Johnson Company Brokers Off-Market Sale of Statesboro, Georgia Medical Office Building
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 1555 Brampton Avenue in Statesboro, Georgia. The 6,617-square-foot medical office building is fully leased to Atlanta Gastroenterology Associates but was vacant at the time of sale. Stan Johnson Company’s Doug Clyburn and Julie Clyburn represented the seller, Hamron Inc., an Atlanta, Georgia-based private investor, in the off-market transaction. The asset was purchased by a local development firm for approximately $2.2 million reflecting an 8.84 percent cap rate.
“We represented the seller of this off-market ‘dark’ medical office building located in Statesboro, Georgia,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “The tenant consolidated its operation into other facilities but has maintained the property and will continue to honor its lease for the six and a half years remaining on the original 15-year absolute triple net lease. This provides the new owner with in-place cash flow, including 2.0 percent annual escalations, and they’ll have ample time to re-tenant or redevelop the property.”
The property was built in 2004 and is situated on 1.45 acres. Statesboro, Georgia is located one hour northwest of Savannah and is a healthcare leader in southeast Georgia. The site is in close proximity to the East Georgia Medical Center and is adjacent to Georgia Southern University.
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.