Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the ground lease sale of a Lidl grocery store located at 670 Whitlock Avenue in Marietta, Georgia, a northwest suburb of Atlanta. This location is the first investment sale transaction for the brand since entering the U.S. market in 2017. Stan Johnson Company’s Mike Sladich, Joey Odom, Maggie Holmes, Mollie Alteri and Michael Watson represented the Atlanta-based seller, Blanchard Real Estate. The asset was purchased by a foreign investment fund for $4.8 million. The cap rate was not disclosed.
“This is the first Lidl net lease transaction in the United States, and we look forward to using our experience to advise additional clients as Lidl continues to expand their operations here,” said Sladich, Senior Director and Partner in Stan Johnson Company’s Atlanta, Georgia office. “Lidl is the third largest retailer in the world, but only just recently passed 100 locations in the U.S. Until now, they’ve owned all their real estate, but we were able to use our extensive experience selling similar, smaller-format grocers like Aldi and Walmart Neighborhood Market to determine where we thought the market pricing would prove out.”
The 29,136-square-foot retail building was constructed in 2020 and sits on 3.05 acres. The 20-year, absolute triple net lease features regular rent increases.
About Blanchard Real Estate:
Blanchard Real Estate (“BRE”) is a privately-owned real estate investment management firm focused specifically on the value enhancement of retail properties, where BRE has the expertise, market knowledge, and relationships required to effectuate successful investments. The principals of BRE possess 35 years of acquiring, managing and selling retail investment properties, as well as long-standing relationships with owners, brokers, tenants and lenders that facilitate access to both on and off-market opportunities. We have directly participated in the acquisition and disposition of more than $1 Billion of retail properties.
