Stan Johnson Company Facilitates 1031 Exchange Acquisition of a South Florida 7-Eleven
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of 4999 North State Road 7 in Tamarac, Florida. The 3,100-square-foot gas station and convenience store was fully leased to 7-Eleven. Stan Johnson Company’s Tom Georges represented the New York-based 1031 exchange buyer, who acquired the asset for approximately $6.7 million reflecting a 5.65 percent cap rate.
“While most newly-leased 15-year 7-Eleven properties are trading at sub-5.0 percent cap rates due to the strength of corporate credit, this deal offered a higher cap rate given the franchisee’s credit and was particularly attractive to the buyer,” said Georges, Director in Stan Johnson Company’s New York office.
With direct access to the Florida Turnpike, the well-located property was built in 2018 and is situated on 0.8 acres at a signalized intersection which sees over 100,000 vehicles per day combined. Neighboring tenants include Publix, Walmart Supercenter, Walgreens, Planet Fitness and many others.
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 $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.