Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 913 Rucker Boulevard in Enterprise, Alabama. The 54,500-square-foot shopping center is anchored by Planet Fitness and features seven additional tenants. Stan Johnson Company’s Brett Puckett represented the seller, a Mississippi-based private investor. The buyer, an individual investor based in New Hampshire, acquired the asset for $3.2 million.
“This was our third Planet Fitness anchored center sold since July, and the second in the past month to go under contract before it ever hit the open market,” said Puckett, Associate in Stan Johnson Company’s Cincinnati, Ohio office. “Even though the property sits on a ground lease in a tertiary Alabama market, the strength and standing of Planet Fitness in the investment world made this a desirable asset. We were yet again blessed to have a buyer and seller who were committed to integrity and character, both walking away satisfied from the closed deal.”
Located two hours south of Montgomery, Alabama in the southeast part of the state, the property was originally built in 1973 on 9.0 acres. At the time of sale, the shopping center was 78 percent leased.