Stan Johnson Company Brokers $2.4 Million Sale of Maryland Healthcare Property

Wenig-VisionInst

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a medical facility located at 195 Thomas Johnson Drive in Frederick, Maryland. The 10,000-square-foot property is leased to Maryland Vision Institute. Stan Johnson Company’s Asher Wenig represented the buyer, an individual investor based in New York. The seller was a local partnership, and the property traded for approximately $2.4 million.

“In a 1031 exchange, my client purchased this asset at a healthy yield with strong escalations, below market rent and with a value-add component, as 5,000 square feet is currently not being utilized by the tenant,” said Wenig, Senior Director and Partner in Stan Johnson Company’s New York office. “Medical retail/office is a high-demand sector and will continue to garner interest from investors due to community demand and e-commerce resistance.”

The property is situated on nearly 1.1 acres and underwent a major renovation in 2016 to accommodate the medical practice. Maryland Vision Institute is part of the Vision Innovation Partners network, a leading provider of ophthalmology services in the Mid-Atlantic region. The business will continue to benefit from its superb location just off the primary north/south thoroughfare in the area.

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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.