Stan Johnson Company Completes Sale of Hobby Lobby in Auburn, Maine for Just under $7.2 Million
AUBURN, Maine – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of Hobby Lobby, a 55,000-square-foot single tenant building located at 65 Mount Auburn Avenue in Auburn, Maine. The property was acquired by Phoenix-based VEREIT for just under $7.2 million.
Stan Johnson Company’s Erik Lundberg represented both the seller, Schilling Drive, LLC, and the buyer.
Hobby Lobby is ideally located in a strong retail corridor with more than 33,000 vehicles per day and minutes away from numerous national retailers and big box tenants such as Home Depot, TJ Maxx, Best Buy, Big Lots, Harbor Freight Tools, Petco, Lowe’s, Starbucks, McDonald’s and Burger King.
“Given Stan Johnson Company’s extensive marketing reach and national platform, we had interest from buyers across the U.S.,” said Erik Lundberg, Associate Director in Stan Johnson Company’s Tulsa office. “After a thorough and competitive bid process, which included institutional and private investors, we selected a well-qualified West Coast institution who executed flawlessly.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.