Stan Johnson Company Announces Sale of Kimmell Crossing, Walmart Shadow-Anchored Center in Southwest Indiana

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Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Kimmell Crossing, a 44,962-square-foot shopping center located at 636-648 Kimmell Road in Vincennes, Indiana. Shadow-anchored by Walmart, the center was fully leased at the time of sale to 10 tenants. Stan Johnson Company’s Ryan Roedersheimer represented the seller, Regency Properties, a developer based in Indiana. A North Carolina-based private buyer, DPPM Management, acquired the asset for approximately $4.6 million. Both parties were involved in 1031 exchanges

“Once again, we were able to help all sides achieve their goals,” said Roedersheimer, Director in Stan Johnson Company’s Cincinnati, Ohio office. “The seller had a capital call deadline and use for the proceeds, while the purchaser wanted to expand his portfolio with a stabilized asset that provided a little more yield to it.” 

The property is situated on 4.24 acres off the exit ramp of U.S. Highway 41 and boasts excellent visibility and access via multiple points of ingress/egress, including a signalized intersection. Tenants include Dollar Tree, Maurices, T-Mobile, CATO and other national retailers. 

“Not only did both sides achieve their goals, but the seller is now managing the property for the out-of-state buyer,” Roedersheimer added. “They have developed a great relationship throughout this process. As is true with each project I oversee, it is always the hope that parties come together in a healthy and meaningful way. That’s exactly what we accomplished with this transaction.” 

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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.