Summary of future growth plans for the top 100 retailers, as selected by brand recognition, expansion rate and frequency of investment sale transactions Average cap rate and sale price information for the most commonly traded retailers Credit rating summary with parent company information Average square footage ranges and store counts for each tenant To download a copy of this report, please provide the following information: hbspt.forms.create({ region: "na1", portalId: "7279330", formId: "3e2edbdd-6ea7-46ff-a1cb-37330248a93e", version: "V2_PRERELEASE" });

Originally published by Commercial Property Executive Industrial outdoor storage has gone from being a niche in the industrial sector often owned by small private investors and mom-and-pop operators to a market estimated at $200 billion. During the past three years, IOS has been growing dramatically and increasingly attracting the attention of—and significant outlays—from institutional investors and private equity firms.  “There is a lot of institutional capital chasing deals right now in the IOS space and it’s happened very quickly. I have two or three new groups calling me every week that I previously didn’t know about,” Zach Harris, a director at Stan Johnson Co. based in Tulsa, Okla., told Commercial Property Executive. “They’ve got committed capital and they’re ready to spend it. There’s definitely a rush to acquire product as quickly as possible.”  The demand for industrial storage space increased during the pandemic as e-commerce exploded and continues to be a significant part of the supply chain as more businesses seek locations for last-mile delivery and also want to be near ports and major industrial corridors. This hot commercial property type is mainly used for truck terminals, trailer storage, container storage, pallet storage and construction or heavy equipment yards. Trucking and truck parking are the heaviest users, particularly by third-party logistics companies.  Some of the biggest players in the IOS subsector include J.P. Morgan Global Alternatives and Zenith IOS, which formed a $700 million joint venture in February to create a national IOS storage platform and are aiming to build a portfolio worth $1 billion within the next two years. They kicked off their joint venture with the acquisition of four facilities in Dallas, including a nearly 27-acre property at 2118 California Crossing about 1 mile from Interstate 35 and 10 miles from Dallas Fort Worth International Airport.  Alterra Property Group closed its Alterra IOS Venture II LP fund in March with $524 million in total commitments, well beyond its original fundraising goal of $400 million. Limited partners in the fund included public and private pensions, endowments and foundations, asset managers, family offices and high-net-worth individuals. Alterra was an early entrant in the IOS market, launching its strategy in 2016.  Also in March, investor and developer Criterion Group and Columbia Pacific Advisors formed a joint venture aimed at deploying more than $2 billion in capital in IOS properties across the U.S. by late 2023. The joint venture’s first acquisition was a 41-property portfolio covering 520 acres across 11 states valued at $360 million. In June, Criterion Group announced the acquisition of eight IOS properties totaling 151 acres for an aggregate purchase price of $45.3 million. Criterion’s IOS portfolio now has 50 properties in 13 states valued at $550 million, including its first purchases in North Carolina and Virginia.  In June, Iconic Equities, a Miami-based real estate investment and development firm focused on industrial assets, and Leste Real Estate U.S., the real estate investment strategy of alternative investment manager Leste Group, formed a programmatic joint venture backed by about $150 million in institutional capital to acquire $400 million of industrial outdoor storage facilities across the U.S.  Iconic Equities—formed about 18 months ago—made IOS investments a core focus within the last six to nine months after focusing initially on more traditional industrial acquisitions and development in markets like Charleston, S.C., and Phoenix, according to Founder & CEO Tim Bishop. In Phoenix, the firm is set to break ground on approximately 1.2 million square feet and acquiring an additional 110,000 square feet in a forward takeout structure.  The joint venture partners are looking for sites ranging from 5 to 15 acres in top U.S. logistics markets including New Jersey; Atlanta, Dallas, Los Angeles; the Bay Area; the Inland Empire; Nashville, Tenn.; Columbus, Ohio; Savannah, Ga., and South and Central Florida.  Their first acquisition was the $9.5 million acquisition of Garnett Storage, a 5-acre storage site in Coral Springs, Fla., which is leased to nearly 300 tenants seeking outdoor storage for boats, trailers, motor homes and commercial vehicles. The joint venture recently acquired a 6-acre IOS site in Fontana, Calif., in the Inland Empire and has deals in contract in the Inland Empire, Los Angeles and Columbus.  Warehouse development in super infill locations near ports and in the major MSAs that typically sacrifice parking spark demand for IOS sites that can provide parking for trucks as well as storage for containers and pallets, Bishop told CPE.  The Iconic team uncovers the opportunities for the joint venture, establishes the deal flow and structures the deal flow while Leste focuses on the capital market side of the transactions.  “From an institutional capital perspective, the reason this has become such an interesting niche over the last six months and really the last several years is it’s under penetrated by the institutions.” Leste Managing Director Josh Patinkin told CPE. “That coupled with really strong fundamentals in rent growth and tenant demand for these types of assets has come together to create a growing niche.”  Chasing Yield  There’s another important reason IOS has become increasingly popular with institutional investors. They are chasing higher yield.  “This strategy affords institutional capital the opportunity for higher yielding investments when their two biggest apprehensions right now are cap rate expansion and interest rate risk,” Bishop said. “When you get higher yield, you’re kind of insulated from that.”  The IOS market is not quite as mature as other real estate asset classes. Many of the properties are still owned by mom-and-pop operators and deals can be off-market or represented by local brokers rather than national brokerage platforms, Patinkin said.  “It’s not a very liquid market,” Bishop added. “There’s a lot of inefficiency in pricing and in evaluating risk and return and it’s especially extenuated in IOS because they’re smaller opportunities, they tend to have less institutional ownership and less of a national brokerage presence.”  Bishop and Patinkin also noted there are high barriers to entry in IOS due to a limited supply and many municipalities frown on these kinds of properties and are not likely to approve new uses in their communities.  “It’s one of the very few strategies where you can say supply is decreasing because a lot of these sites are very infill and tend to get redeveloped into other uses like traditional warehouse and there’s only so many of these permits that are out there,” Bishop said.  The IOS submarket in the Denver region has been growing organically over the past three years with a focus on infill sites close to the city, according to Cushman & Wakefield director Joey Trinkle.  “It’s harder to find buildings with outside storage and lower coverage in a strategic location close to the urban core that is also close to major interstate access,” said Trinkle. “There is higher demand from both the end user and investor sides to finding locations closer in.”  Rising Rents  Similar to the industrial sector as a whole, rents have also been rising in the IOS space, where leasing is priced by the acre rather than square footage.  “A few years ago, we were seeing deals done for outside storage without a building on site for about $5,000 an acre,” Trinkle told CPE. “Now we see $6,000 per acre triple net, which really speaks to the value.”  “Outside storage properties bring a unique mix of users, some are local trucking and transportation companies that are local to Denver. But we also see national credit corporations looking for strategic sites. That’s really who these investors are targeting,” Trinkle said.  Trinkle and Managing Director Matt Trone are currently marketing a 27-acre industrial storage yard/trailer site at 409 W 66th Ave. in central Denver recently acquired by IG Logistics, Imperium Capital’s industrial platform than owns and operates properties with large outdoor storage or transportation components, and Meadow Partners, an institutional middle-market real estate investor, for $19 million. IG Logistics launched last year with plans to invest $250 million in IOS properties and specializes in acquiring and developing infill assets in high barrier to entry, urban growth markets where demand for logistics real estate is driven by e-commerce, with a focus on last-mile facilities.  The central Denver property is a vacant lot that is zoned for outdoor storage and includes a 10,000-square-foot industrial building with about 6,500 square feet of office space, two drive-through service bays and 14 feet of clear height. It’s also situated near the confluences of I-76, I-25, I-270 and US 36 and near the BNSF Intermodal Facility and UP Intermodal Facility.  Trone described the former auto auction site as a “rare and very attractive piece of property” that can be divided down to three or four tenants, with options to share the building and office space, or some can just use the property for pure yard space.  In June, Trone and Trinkle and colleague Steve Hager represented a partnership of Biynah Industrial Partners and Platform Ventures in the $9.5 million acquisition of a 12.2-acre IOS property in central Denver from Prime Inc., in an off-market transaction. BIP, a Minneapolis-based private equity firm that invests in industrial real estate, and Platform, a Kansas City, Mo.,-based real estate investor and asset manager, plan to invest at least $150 million in IOS assets over the next two years.  The Cushman & Wakefield brokers are also marketing the property that has access to the major Denver highways and the two intermodal facilities. The previous owner was only using about 4 acres, Trone said, while the new owners plan to pave the unused land to maximize the space for interested tenants. They expect strong demand since development of infill locations over the past several years has displaced companies that need parking for trailers and heavy equipment.  The renewal rate for tenants in the IOS sector is greater than traditional industrial properties. Harris told CPE. But they also tend to sign shorter leases, generally in the five- to seven-year range, which is attractive to institutional owners looking for value-add assets that will potentially see more frequent rent increases. With demand outpacing supply, owners also don’t need to worry about replacing tenants who leave. Triple net leases can often be found at IOS properties, where operating expenses in general are lower than traditional industrial properties.  Despite the increased investments in IOS in recent months, Leste’s Patinkin says the market is big enough to accommodate all the interested investors—at least for the next two or so years.  But he has advice for those considering investments in IOS: “You have to have really good access to capital because the credit markets are very young in IOS and there’s not a lot of participation yet. So, you have to navigate that. You have to be fairly deep pocketed and have support. You’re not going to get competitive individual small loans on an asset-by-asset basis. You have to know how to access the broader capital markets to navigate this strategy.”   

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of the Concord Station neighborhood center located at 8621 Concord Mills Boulevard in Concord, North Carolina. The 45,569-square-foot retail center was 100 percent leased at the time of sale. Billy Benedict of Stan Johnson Company represented the South Carolina-based private buyer. The seller was a developer based in Florida. The asset was acquired for approximately $15.2 million.  “Concord Station will be a great long-term investment with its central location at the heart of the super-regional hub along one of Charlotte’s major growth corridors. The property benefits from its adjacency to Concord Mills which includes Bass Pro Shops, Dick’s Sporting Goods and Best Buy and is the largest single-site tourist attraction in North Carolina,” said Benedict, Associate Broker in Stan Johnson Company’s Alpharetta, Georgia office. “The buyer already had six similar multi-tenant centers in the Charlotte metro area, and therefore Concord Station was a very logical fit for their expanding portfolio.”   Located 15 miles northeast of Charlotte and about two miles west of Charlotte Motor Speedway, the center features nine tenants including McAlister’s Deli, Guitar Center, The UPS Store and Big Blue Swim School.  

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Silver Lake Village, an 87,750-square-foot shopping center located at 2311 Southeast Adams Boulevard in Bartlesville, Oklahoma. Anchored by T.J. Maxx, Ross Dress For Less, Petco and ULTA, the center was fully leased at the time of sale to 12 tenants. Stan Johnson Company’s Margaret Caldwell and Patrick Kelley represented the seller, GBT Realty Corporation based in Brentwood, Tennessee. A Florida-based 1031 exchange private buyer acquired the asset for approximately $15.3 million.  “Silver Lake Village was the perfect investment opportunity for this 1031 exchange investor who submitted a pre-emptive offer shortly after we hit the market,” said Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.   The property is situated on 9.41 acres and shadow-anchored by the only Lowe’s within 30 miles.  The shopping center boasts a signalized intersection with excellent visibility from Adams Boulevard and the adjacent recreational area, Lee Lake. Non-anchor tenants include Maurices, Kay Jewelers, Verizon, and other national retailers.  “With the top-quality tenant lineup and minimal competition, Silver Lake Village is the premier center in the region and was highly sought-after by investors,” said Kelley, Associate Director in Stan Johnson Company’s Atlanta, Georgia office.   “We are very pleased to have been part of the Bartlesville community for the last seven years,” a representative from GBT Realty Corporation added. 

We are excited to announce that industry news leader, GlobeSt.com, has named Ryan Butler, Managing Director and Partner, as a Net Lease Influencer for 2022. Ryan has a deep track record across the net lease sector, and with more than two decades of experience, he has made a consistent impact and significant contributions to the industry. Please join us in congratulating Ryan on this outstanding nomination!  Net Lease Influencers 2022 Excerpt of article originally published by GlobeSt Net lease has always been a stable asset class, attracting investors intrigued by its regular cash flow and strong fundamentals. Now it is wobbling a bit as the economic uncertainty clouds pricing but few believe that will last long. Still, it is times like these that require the best of the best to navigate the space and we are confident we have picked that crew in our 2022 net lease influencers. We hope you enjoy their stories as much as we did as we made our selections.   Ryan Butler Known for finding deals and solving problems, Ryan Butler is focused on helping clients acquire and divest net lease assets across the retail, industrial, office and healthcare sectors as managing director and partner at Stan Johnson Co. Butler’s 22 years of experience have helped him develop deep relationships in the net lease arena. During his career, he has closed $2.55 billion in sales, and in the past three years, he has sold more than $1.1 billion of investment properties across nearly 200 individual transactions. In recent months, Butler notably achieved record-low cap rates for a BJ’s Wholesale Club in Massachusetts and a McDonald’s restaurant that sold in Texas. In addition, he brokered the sale of three single-tenant retail portfolios for a combined $75.5 million. Butler’s production volume made him eligible to be inducted into the firm’s inaugural class of partners in 2020, an opportunity offered to SJC’s top sales producers that recognizes outstanding contributions and commitment to providing extraordinary service to clients. Butler serves as a thought-leader in the industry by frequently contributing to whitepapers and providing expertise on net lease for media outlets.  Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved. 

We are excited to share that Zach Harris, Director, as been recognized as an Industrial Influencer by industry news leader, GlobeSt.com. Zach’s ability to build deep, lasting relationships and his unwavering commitment to client service are just a few characteristics that make him qualified for this exceptional recognition!  Industrial Influencers 2022 Excerpt of article originally published by GlobeSt The industrial asset class shows little sign of wear and tear, although it is equally true that the category is not surging as it did last year. That, though, is a function of the economy and not necessarily industrial’s fundamentals. Change, however, is underway in the category as we have discussed elsewhere in this issue, and it will require the top men and women to continue to navigate these new trends. We believe we have picked that top talent with this year’s industrial influencers.  Zach Harris Colleagues say Zach Harris has an incredible drive to succeed both in his personal and professional life, and that he balances this ambition with humility, kindness and a deep sense of fairness that he offers to both his clients and co-workers. Harris began his industry career at Stan Johnson Co. 11 years ago, and he now serves as a director at the firm, where he specializes in the disposition, acquisition and capitalization of net lease assets for clients nationwide. With a strong track record in the industrial space, he has made a name for himself in the industrial outdoor storage sector by participating on panels and authoring numerous thought-leadership pieces that explore trends in the growing niche. During his tenure at the firm, Harris has contributed to the closing of more than 240 transactions, totaling more than $3.75 billion in transaction volume. Some of his more recent industrial transactions include an IOS property in St. Louis that traded in a 1031 exchange, the sale of a Texas IOS facility leased to Herc Rentals, a Midwest warehouse that sold to a REIT for $12.5 million, and a multi-tenant industrial property that closed for $14 million. Harris previously received a Stan Johnson Co. core value award for integrity – a peer-nominated recognition that is awarded annually. During the pandemic, his production volume increased, and he was elected president and board member of NAIOP’s Oklahoma chapter.  Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved. 

We are excited to share that Stan Johnson Company has been recognized as a Net Lease Influencer by industry news leader, GlobeSt.com. With more than four decades of experience, you can count on our team of professionals to help you navigate the nuances of the net lease sector.  Net Lease Influencers 2022 Excerpt of article originally published by GlobeSt Net lease has always been a stable asset class, attracting investors intrigued by its regular cash flow and strong fundamentals. Now it is wobbling a bit as the economic uncertainty clouds pricing but few believe that will last long. Still, it is times like these that require the best of the best to navigate the space and we are confident we have picked that crew in our 2022 net lease influencers. We hope you enjoy their stories as much as we did as we made our selections.  STAN JOHNSON CO. With a historical focus on the single-tenant net lease sector, Stan Johnson Co. is in its fourth decade of operation and has expanded its service platform. Founded in 1985, the firm, led by president and CEO Stan Johnson, provides acquisition, disposition, sale-leaseback, capital markets and advisory services for institutions, developers, investment funds, corporate occupiers and private investors across the US. The firm’s expertise includes single-asset and portfolio sales, as well as sale-leaseback transactions, 1031 exchanges and zero cash flow transactions that span all types of commercial assets including retail, office, industrial, healthcare and specialty properties. The firm has closed more than 6,700 net lease transactions totaling more than $42 billion in sales activity. In the past three years, Stan Johnson Co. closed more than $11.5 billion in net lease transactions, including a two-location portfolio of Midwest grocery stores for $18.7 million, a $12 million Home Depot ground lease in Ohio, a newly-built freestanding restaurant in Nashville that set a new cap rate record for the metro area, and a three-transaction portfolio that included 40 net lease properties across seven states that sold for $75.5 million. In 2021, the firm also launched an affiliate company, Four Pillars Capital Markets  — a real estate capital markets brokerage firm that provides debt and equity financing to commercial real estate investors as they acquire or refinance assets.  Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved. 

Across the single-tenant marketplace, office and industrial are currently the dominant property sectors in terms of sales volume contribution. With healthcare – a subset of the office sector – playing such an essential role in recent years, along with continued red-hot demand for industrial and logistics space, these sectors have combined to contribute approximately 80 percent of single-tenant property sales volume each quarter for the past four years. This percentage is up from 67 percent just a decade ago. Within the industrial market alone, we’ve seen transaction volume increase from 35 percent of the overall market in 2012 to 52 percent year-to-date 2022, illustrating a significant shift in buyer demand. Single-Tenant Office Sees Spotty Rejuvenation Post-Pandemic The single-tenant office sector had an impressive start to the year in 2022. The sector posted more than $8.0 billion in investment sales activity, securing first quarter 2022’s place as the fourth strongest quarter on record. In fact, post-pandemic activity for the office market has led to three of the top-five performing quarters in history. Despite the recent momentum, it wasn’t able to carry over into second quarter 2022, when just $3.8 billion in transactions were logged. Quarter-to-quarter, this represents a 53.1 percent drop in activity, and it’s also the lowest level of sales volume reported since the height of the pandemic. As is typical, the quarter was dotted with several higher priced transactions including the $205.5 million sale of the former Xerox facility in El Segundo, California, as well as AT&T’s corporate office in the Buckhead submarket of Atlanta that sold for $137 million. However, the highest profile transaction of the quarter was the four-property Meta campus in Silicon Valley that traded for nearly $707 million. Overall transaction count was down, but the vast majority of activity for the quarter involved smaller transactions, primarily under $25 million, with numerous sales falling below the $10-million mark. While this trend isn’t necessarily unusual, especially in the single-tenant sector where many office properties are of smaller size and price point, there was a noticeable absence of larger portfolio closings that have been prevalent in recent quarters.  Without these substantial transactions, overall sales activity naturally falls, but it doesn’t necessarily indicate a reduction in buyer demand for the sector. In just the first half of this year, private investors have taken market share away from REITs and institutional investors by being very active in the small deal space. If we study the historic dominant players for single-tenant office properties along the spectrum – from small freestanding facilities to massive corporate offices and campuses – the reduction in sales volume doesn’t feel so surprising. Could Second Quarter Activity Indicate an Industrial Slow Down? Industry experts have been suggesting for months that a slowdown is looming for the industrial sector. A number of headwinds continue to impact the market, and investment sales activity in the first half of 2022 has indeed witnessed a decline from recent record-setting periods. In second quarter 2022, the single-tenant industrial sector reported $8.4 billion in transaction volume. This was down 32.2 percent from first quarter 2022, when approximately $12.4 billion in sales were reported. When compared to the astronomically high activity reported at year-end 2021, and studying the $52-billion year as a whole, the industrial sector looks to be significantly off-pace midway through 2022. However, strip out just fourth quarter 2021, and the market is actually performing equal to the five-year trailing quarterly average and outpacing the 10-year average. Current activity appears to be right-sizing, returning to levels more in-line with a hot, but not overly frothy, market. Additionally, if investment activity doesn’t decline further in the second half of the year, 2022 could easily become the second strongest year on record. As tenants grapple with increasing rents and low vacancy, investors are watching interest rates and inflation, trying to make deals make sense. Part of today’s pullback in sales volume is likely influenced by the repricing of deals as buyers are no longer able to lock in debt at yesterday’s costs. However, with demand still very high and new supply lagging, there is no shortage of bidders on most of today’s offerings. To download a copy of this report, please provide the following information: hbspt.forms.create({ region: "na1", portalId: "7279330", formId: "e0a86c38-f147-4bd4-8dba-8b92e71fa857" });

Originally published by GlobeSt Seeking further investment in recession-proof real estate, CBRE Investment Management has entered the medical office sector.  Its managed fund announced this week that it acquired a four-building medical office portfolio totaling 282,683 square feet in Orange County, Calif., through a joint venture with Healthcare Realty Trust.  Larissa Belova, portfolio manager, CBRE Investment Management, said in prepared remarks that, similar to the life science sector, “the medical office sector is attractive because the aging population coupled with the world pandemic have increased spending on healthcare.  “Our strategy focuses on assets located within or adjacent to thriving hospital systems that create ecosystems that benefit doctors and their patients.”  Sondra Wenger, head of Americas commercial operator division, CBRE Investment Management, said in prepared remarks that medical office has high barriers to entry due to the increasing complexity of the assets, resulting in an undersupply of state-of-the-art assets.  “Tenant retention rates tend to be higher because of the cost of tenant improvements and the need for a recognized location,” Wenger said. “This acquisition gave us an opportunity to gain immediate scale of historically strong-performing medical office building assets in a top cluster within the healthcare sector, and we are looking to increase our investment nationally in this sector that has performed well through market cycles.”  Medical Assets Expected to Outperform Office Market  Medical office properties have proven relatively resilient with vacancies averaging about 2% lower than traditional offices as the work of medical practitioners often requires an in-office presence, according to a CBRE release. “For these reasons, medical office assets are expected to outperform the office market overall,” the company said.  Brett Buchwald, Vice President at SK Commercial Realty in Atlanta, tells GlobeSt.com that acquiring on-campus or campus adjacent medical office facilities is an excellent strategy to bolster the stability and maintain a portfolio’s value.  “There is always demand for medical office tenants to be near hospitals,” Buchwald said. “During the pandemic, very few medical office tenants requested rental abatements or missed rental payments. So, these kinds of acquisitions are viewed as extremely recession resistant.”  Toby Scrivner, Partner at Stan Johnson Company, tells GlobeSt.com that campus-adjacent medical properties provide investors with two fundamentally valuable characteristics.  “First, these are irreplaceable real estate assets,” Scrivner said. “Second, they provide a source of future tenant prospects. The available supply of existing surplus medical real estate is very limited though. Prudent investors are currently searching for properties that can be acquired for an attractive basis relative to new construction.”  Acquired From Largest Healthcare Trust  The assets CBRE Investment Management acquired were part of the Healthcare Trust of America portfolio, which has merged with Healthcare Realty Trust to form the largest medical office building owner in the United States.  The portfolio includes Mission Medical Center Buildings 1-3 and Mission Medical Center Tower on the campus of a leading acute care hospital in affluent Mission Viejo.  Mitch Creem, principal, GreenRock, tells GlobeSt.com that many hospitals throughout the US own medical office buildings on or near their campuses.  “Hospital-owned MOBs are aging and often in need of major renovations to keep and attract physicians and patients,” Green said. “Partnering with real estate investment trusts and funds to infuse new capital into needed upgrades makes a lot of sense, especially during these times of declining hospital profits and cash flows.  “Additionally, these MOBs are good investments due to the ever-present trends of our growing aged population and a shift of medical care towards lower-cost outpatient settings. Moreover, the medical office fits the bill for physicians and patients to be closer to higher levels of care when needed.”  © 2022 ALM Global Properties, LLC. All rights reserved. 

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of the Washington Square neighborhood center located at 1002 Lexington Road in Georgetown, Kentucky. The 122,554-square-foot shopping center is anchored by LifePoint Health and was fully leased at the time of sale. Ryan Roedersheimer of Stan Johnson Company represented the seller, a Lexington, Kentucky-based investor. A private buyer based in Austin, Texas acquired the asset for approximately $15.0 million.   “Washington Square was a fun assignment. We were able to bring a repeat seller and buyer to the table and both were thrilled with the outcome. For the seller, we achieved the first part of his goal, and I am actively working on finding his exchange property,” said Roedersheimer, Director in Stan Johnson Company’s Cincinnati, Ohio office. “For the buyer, we successfully added another trophy asset to his portfolio. As is our goal, this was truly a winning outcome for all involved!”   Located just 10 miles north of Lexington, the shopping center features 23 tenants across four buildings. Built in 1972, the property sits on 13.93 acres. The retail center benefits from a signalized intersection, monument signage and the highly trafficked U.S. Route 25.  

Originally published by GlobeSt Margaret Caldwell recently took three women on the cusp of their careers to dinner. One of the young women, fresh from graduation at UC Berkeley, asked Caldwell what the most important part of her career has been. Her answer?  “While I could talk about all of the successes and deals I’ve closed in the last 22 years – which total around $17 billion – the most important time in my career was the first five years,” notes Caldwell, managing director and partner at Stan Johnson Company in Atlanta who specializes in the sales of multi-tenant retail shopping centers. “That’s when I learned the skills I needed to be successful.”  Caldwell began her career as a financial analyst at Legg Mason in Washington, DC, before being recruited at age 25 to be a producer in the firm’s Charlotte office. She remembers being told on her first day that she’d be responsible for generating her own production with no support.  “I felt like I had been dropped in the deep end without water wings,” she says. But in hindsight, “this was one of the best learning experiences ever for someone with my personality. The word ‘no’ from potential clients made me work harder.”  The experience taught Caldwell to cold call, network and establish the foundational relationships that would be crucial to her later successes at firms like Binswanger, Cushman & Wakefield, JLL and now Stan Johnson Company, where she’s been for almost three years.  Caldwell acknowledges that “every day in this business is a challenge,” but says her ability to solve problems quickly and on her feet, coupled with strong math and writing skills, have helped her stand out.  “When I started in this business, for many years there were very few women,” she says. “I have enjoyed training other women on my team about the business, and now a good number of my clients are women. The numbers of women in commercial real estate are significantly increasing – and the proof was all of the successful women in the room in Deer Valley at the Women of Influence conference.”  Her advice for young professionals starting off on their commercial real estate career is direct and straightforward: build on your skills. And if you don’t have a skill, “you need to go get it or surround yourself with a good team,” she says, adding that ultimately, success comes from within.  “If I had to do it all over again, I would pick the same career path,” Caldwell says.  © 2022 ALM Global Properties, LLC. All rights reserved. 

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Beal Commons, a multi-tenant shopping center located at 575 Beal Parkway Northwest in Fort Walton Beach, Florida. Beal Commons totals 15,982 square feet and is leased to strong national retailers. Stan Johnson Company’s Chase Dominguez represented the seller, a Fort Walton Beach, Florida-based developer. The property was acquired for $8.4 million by an individual investor out of Arizona. Both parties were involved in 1031 exchanges.  “Situated within a growing Florida market, strong credit and a diversified tenant mix made this center a highly appealing opportunity,” said Dominguez, Associate in Stan Johnson Company’s Atlanta, Georgia office. “Timely tenant renewals coupled with the fierce appetite of investors for multi-tenant retail this year has provided us with an ideal scenario to get this deal sold.”  The shopping center was built in 2006 and renovated in 2019. Tenants include Starbucks, FedEx Office, Verizon and Ruby Tuesday. Situated on 3.04 acres, Beal Commons has the best commercial corner in Fort Walton with great visibility and access at the intersection of Beal Parkway and Mary Esther Cut Off. The site benefits from a dense residential population, as well as significant tourist traffic. Nearby national tenants including Publix, Walmart, Chick-fil-A, Lowe’s, T.J. Maxx and more.