Stan Johnson Company Negotiates Sale of a Florida KinderCare for $2.0 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a KinderCare Learning Center located at 3270 East Bay Drive in Largo, Florida. Stan Johnson Company’s Milo Spector, Chris Lomuto and Matt Lipson, represented the seller, a Florida-based institutional group. A private buyer from Pennsylvania, who was represented by Aaron Huntley and R.J. Tuller of Horvath & Tremblay, purchased the asset for nearly $2.0 million, although the cap rate was not disclosed.
“I don’t think a lot of folks realize how much of an essential business early education/child care is. In my opinion, this sale speaks volumes to that, as we were not only able to get the property under contract and sold during the pandemic, but we also procured multiple offers from interested buyers all across the country,” said Spector, Associate Director in Stan Johnson Company’s West region who has a focus on early education properties nationally.
The single-tenant facility totals 7,680 square feet and sits on a one-acre parcel along a highly traveled retail corridor in suburban Tampa, Florida. This site was designated as one of KinderCare’s “essential centers,” which means it was able to stay open throughout most of the pandemic due to the strong medical presence in the area and demand from essential workers and first responders.
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.