Stan Johnson Company Announces Ground Lease Sale of Toledo, Ohio Home Depot for $12.0 Million


Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the ground lease sale of a Home Depot located at 1035 West Alexis Road in Toledo, Ohio. The single-tenant big box home improvement warehouse totaled 141,610 square feet situated on 13.3 acres. Stan Johnson Company’s Chad Byerly represented the seller, a local developer. The property was acquired by a private 1031 exchange investor for $12.0 million.

“This particular Home Depot ground lease asset was in a good, established area,” said Byerly, Director and Partner in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “Even though the tenant had just exercised a lease option and only five years remained on the lease, we received lots of activity from the market. The seller ultimately decided to go with a California trade buyer, and it ended up trading very close to list price.”

The property is located six miles northwest of downtown Toledo and serves a customer base of approximately 192,000 residents in a five-mile radius. Strategically located in a dense retail corridor, neighboring tenants include Lowe’s, Ollie’s Bargain Outlet, Kroger, Target and many other national retailers.

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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 and its affiliates provide 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 $45 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.