Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 4,170-square-foot medical office building located at 104 Market Path in Georgetown, Kentucky. The property is fully leased to BlueSprig Pediatrics, which recently merged with Florida Autism Center and Fusion Autism Center to become the leading provider of applied behavior analysis therapy services in the southern U.S. for children diagnosed with autism spectrum disorder. Stan Johnson Company’s Ryan Roedersheimer represented the locally based seller. A private buyer from Kentucky acquired the asset for nearly $1.1 million.
“This was a challenging transaction as BlueSprig isn’t yet a well-known brand, and they only signed a five-year lease,” said Roedersheimer, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “However, we were able to generate multiple offers just below list price and demonstrate the strength of the location and business model of the tenant.”
The property was built in 2000 on 0.76 acres in a northern suburb of Lexington, Kentucky. The site is strategically located near Georgetown Community Hospital and serves a rapidly growing population.