Stan Johnson Company Announces Sale of Washington Square Shopping Center Near Lexington, Kentucky

ShoppingCenter

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.  

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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.