Stan Johnson Company Brokers Sale of Dallas, Texas Walgreens for $6.4 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a Walgreens drugstore in Dallas, Texas. The 15,120-square-foot property, at 2060 South Buckner Boulevard, sold for $6.4 million. Stan Johnson Company’s Mark Lovering represented the seller, an individual investor based in Houston, Texas. The buyer was an institutional investor from Los Angeles, California, and the property traded at a 6.09 percent cap rate.
“We were excited to be working with repeat clients on both the buy and sell side,” said Lovering in Stan Johnson Company’s Chicago, Illinois office. “This transaction marks our team’s 41st Walgreens closing in the last 18 months, which is a testament to the consistently strong demand we’ve seen for essential retail real estate during the pandemic. We fully expect to see this demand continue through 2021.”
The property was originally built in 1998, and it sits on 2.51 acres. This location boasts strong store sales and a double net lease with approximately 10 years of lease term remaining.
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.