Stan Johnson Company Brokers Sale of California Dollar General for $2.2 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 9,100-square-foot freestanding Dollar General located at 36281 Lassen Avenue in Huron, California. Asher Wenig of Stan Johnson Company represented the buyer, a California-based high-net worth individual, in a 1031 exchange. The property was sold by a developer from Georgetown, Texas for $2.2 million.
“With the current health crisis and uncertainty of what retail will look like in the months and potentially years to come, investors are seeking net lease assets that are deemed essential,” said Wenig, Senior Director & Partner in Stan Johnson Company’s New York City office. “Dollar General is an essential business, offering communities discounts on indispensable items and household staples. There’s every expectation that Dollar General will remain an attractive net lease investment as they offer a stable return at attractive yields.”
The newly constructed property sits on 1.18 acres and was completed in 2019. At the time of sale, there were more than 14 years left on the triple net lease. The community of Huron, California is located northwest of Bakersfield, California on Interstate 5.
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.