Stan Johnson Company Raises Equity on a 20 Acre Retail NNN Development Located in Lake City, FL
New York, NY, (3/16/16) – Stan Johnson Company, one of the nation’s premier net lease investment brokerage firms, raised equity and facilitated the land closing for Centurion Partners, LLC on a retail NNN development located in Lake City, Florida.
Joshua Pardue, of Stan Johnson Company represented, Centurion Partners, LLC, and placed the transaction with Vintage Investments for roughly a $7 million capitalization budget that is to be used for land purchase, horizontal improvements and soft costs. Once complete the project will boast a diverse retail and mixed-use experience with tenants such as retailers, medical, office and a hotel. To date, the project has soft commitments from Circle-K, Denny’s, and a Hotel Operator with many other parties in negotiation. The developer intends to break ground in 2016.
Pardue said, “We are pleased to have been able to represent a leading regional developer and best in class investment company to structure a joint venture that will allow for the development of one of Florida’s most high profile Interstate Interchanger. This 28 acre parcel is a major site when entering the state of Florida from I-75 heading south and will truly be a gateway for Lake City. ”
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.