Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 306 Stribling Lane in Brandon, Mississippi. The 3,760-square-foot property, ground leased to Whataburger, sold for $1.9 million reflecting a 4.20 percent cap rate. Stan Johnson Company’s Ryan Roedersheimer represented the Jackson, Mississippi seller. The buyer was an individual investor based in San Jose, California.
“This opportunity was from a repeat client who initially was planning to sell next year, but current market conditions influenced them to act quickly,” said Roedersheimer, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “We were able to achieve the client’s pricing objective, and it was the perfect fit for the buyer’s goals – a true win-win scenario.”
The property is located in the highly desirable Jackson, Mississippi suburb of Brandon with direct access to Interstate 20. The build-to-suit property is situated on nearly 1.5 acres and construction was completed in 2021. The tenant operates on a long-term absolute triple net, corporate-guaranteed lease. Neighboring tenants include Chick-fil-A as well as a brand new Starbucks.