Stan Johnson Company Brokers $4.4 Million Sale of Tallahassee, Florida Shopping Center Anchored by Planet Fitness

Puckett-Planet Fitness

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a north Florida retail center anchored by Planet Fitness. The 58,038-square-foot property is located at 1925 North Monroe Street in Tallahassee, Florida. Brett Puckett of Stan Johnson Company represented the seller, an individual investor based in Mississippi. The private 1031 exchange buyer purchased the property for $4.4 million.

“After accomplishing his goals on the sale of a center in Georgia, the owner of this property engaged our team to list and sell this Planet Fitness anchored center,” said Puckett, Associate in Stan Johnson Company’s Cincinnati, Ohio office. “Through our pre-marketing efforts, we were able to identify a buyer whose investment objectives were a perfect match for this center before it hit the open market. Although the deal faced its share of hurdles, the integrity and transparency demonstrated by both the buyer and seller made this transaction a smooth process.”

The property was originally built in 1977 and was renovated in 2015. It is situated on 4.9 acres and was fully leased at the time of sale to Planet Fitness and two additional tenants. The site is just minutes from Interstate 10 in north central Tallahassee, and neighboring tenants include Publix, McDonald’s and Chick-fil-A, among many others.

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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.