Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 27-property portfolio of single-tenant retail buildings located across 18 states. The 340,000-square-foot portfolio included properties ranging from 5,100 square feet to 23,500 square feet and included 11 distinct tenant brands spanning a wide range of retail segments, including dollar stores and discount retailers, automotive suppliers and servicers, farm stores and home improvement retailers. Stan Johnson Company’s Zach Harris, Jeff Hughes and Melissa McKenzie represented the seller, a Midwest-based private family office. An institutional investor purchased the portfolio for $68.4 million. The cap rate was not disclosed.
“We received a strong level of interest in this diversified net lease portfolio from a number of very qualified groups,” said Harris, Director in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “The buyer that was ultimately selected was able to move quickly and work towards a successful year-end closing, which was a win-win for all parties involved. We continue to see demand in the net lease marketplace for established properties leased to essential retail tenants.”