Stan Johnson Company Arranges Sale of The Forts Retail Outparcel Near Chattanooga, Tennessee

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Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 5,013-square-foot retail center, The Forts. The fully leased, two-tenant property is located at 91-97 Parkway Drive in Fort Oglethorpe, Georgia. Ryan Roedersheimer of Stan Johnson Company represented the seller, a Tennessee-based investor. The property was acquired by an individual investor from Cumming, Georgia for $1.8 million reflecting a 6.75 percent cap rate.

“This was a fun deal to work with our client on,” said Roedersheimer, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “Our biggest challenge was both tenants had early termination clauses for under-performance, but ultimately we were able to demonstrate to the buyer the strength of both tenants who were far exceeding their sales expectations.”

Built in 2018, the property is leased to America’s Best Contacts & Eyeglasses and Buff City Soap on long-term triple net leases. The center is an outparcel to a shopping center anchored by Walmart Supercenter, Hobby Lobby, Ross Dress For Less and other national retailers. Located only five minutes south of Chattanooga, Tennessee and approximately 90 miles north of Atlanta, Georgia, the property has convenient access to Interstate 75 and is served by a growing population base.

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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 $40 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.