Stan Johnson Company Brokers Sale of Thomasville Center Near Tallahassee, Florida for $4.0 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Thomasville Center, a 23,000-square-foot retail center located at 14669 U.S. 19 in Thomasville, Georgia. The multi-tenant property was fully leased to Planet Fitness and DaVita. Brett Puckett and Ryan Roedersheimer of Stan Johnson Company, with support from Analyst Caleb Edwards, represented the seller, Vantage Thomasville Center LLC, an individual investor. An Atlanta, Georgia-based private investor, Hawk’s Landing LLC, purchased the asset for approximately $4.0 million reflecting a 7.25 percent cap rate.
“The retail sector was hit hard in 2020 as a result of the pandemic, but few retailers were impacted as much as fitness centers,” said Puckett, Associate in Stan Johnson Company’s Cincinnati, Ohio office. “We listed this property just a few weeks before the lockdowns began, and the fact that this property traded just a few weeks after most restrictions were lifted is a testament to the resilience of the market and the pent-up demand from investors.”
Located just 35 miles northeast of Tallahassee, Florida, the property is situated on 4.86 acres in one of the city’s densest retail corridors and features ample surface parking. Neighboring tenants include Belk, T.J. Maxx, Lowe’s and many others. The center was constructed in 2018 and both tenants operate on long-term triple net leases.
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.