Stan Johnson Company Completes Sale of Office Building in Greensboro, NC for $7.25 Million
New York, NY, June 25, 2018 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of an office building located in Greensboro, North Carolina. The property was acquired by a private individual for $7.25 million.
Stan Johnson Company’s John Rotunno represented the seller, a Richmond, Virginia real estate investment group. The property, a 53,505-square-foot facility built in 1997, consists of offices and R&D labs leased to Qorvo, Inc. It is located near Qorvo’s corporate headquarters in Greensboro, North Carolina. Qorvo has occupied the property for over 20 years and recently signed a new 10-year extension.
Qorvo, Inc. was founded in 1991 and provides radio frequency solutions and technologies for mobile devices, infrastructure, as well as defense and aerospace applications worldwide. Qorvo is publicly traded (Nasdaq: QRVO) and recently reported annual sales of approximately $3.0 billion with a market capitalization of over $10.0 billion.
“Given Stan Johnson Company’s net lease expertise and extensive marketing reach, we had interest from buyers across the U.S.,” said Rotunno, Associate Director in Stan Johnson Company’s New York office. “After a thorough and competitive bid process, which included institutional and private investors, we were able to select a well-qualified buyer that 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.