New York, New York, May 21, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has arranged the sale of a freestanding, single-tenant retail building leased to Tracker Boating Center. The 9,276-square-foot property is located at 6921 14th Street West in Bradenton, Florida.
The property was sold by a Florida-based developer, Paradise Ventures Inc./Paradise Development Group. They were exclusively represented by Stan Johnson Company’s James Ullrich, Josh Pardue, Michael Macchia, and Greg Macchia.
“We were able to achieve a benchmark cap rate for the property type, demonstrating the allure of Florida real estate,” said Ullrich, Director in Stan Johnson Company’s New York office. “Tracker is an incredible brand, founded by Bass Pro Shop’s Johnny Morris. I think this property will serve the buyer well for years to come.”
The property was purchased by a foreign investor, Selim Levi, on April 23, 2019 for just over $3.0 million. The sale traded at a 7.25 percent cap rate, and the buyer was represented by Aaron O’Connor of Marcus & Millichap.
