Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Midway Station, a 12,050-square-foot retail strip center located at 1009 Atlanta Highway in Loganville, Georgia. Jeff Enck of Stan Johnson Company exclusively represented the sellers, a group of individual investors based in California. A Georgia-based private buyer purchased the asset for more than $2.2 million reflecting a 7.47 percent cap rate.
“Midway Station is an unanchored retail center with nine tenants located between Loganville and Snellville, Georgia,” said Enck, Associate Director in Stan Johnson Company’s Atlanta, Georgia office. “In just a few short weeks of marketing, we were able to secure ten offers and closed the transaction on a short timeline with an all-cash investor.”
The property was fully leased at the time of sale to services retailers and restaurants including Papa John’s. The center was originally constructed in 1998 and is situated on 1.4 acres. With prime frontage along Atlanta Highway, the site is visible to more than 35,000 vehicles per day and is surrounded by national retailers including Dollar General, Chick-fil-A, Kroger, UPS and others.