Stan Johnson Company Brokers Second Sale of KeyBank Branch in Cincinnati, Ohio in Recent Months

KeyBank Branch in Cincinnati, Ohio

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a retail bank branch located at 10600 Harrison Avenue in Harrison, Ohio. The 6,400-square-foot property is triple net leased to KeyBank. Patrick Metz of Stan Johnson Company represented the local private seller. A 1031 exchange buyer from Omaha, Nebraska purchased the property for approximately $2.1 million, reflecting a 6.55 percent cap rate.

“This is the second of two KeyBank locations that we sold for the owner in the last few months,” said Metz, Associate in Stan Johnson Company’s Cincinnati, Ohio office. “For both locations, KeyBank has been the tenant since 1980 and had recently renewed their lease ahead of schedule, illustrating their commitment. Both locations continue to be top of the market performers for KeyBank.”

With convenient access to Interstate 74, the property is located at a signalized corner in a dense retail corridor less than 30 minutes northwest of downtown Cincinnati. Area tenants include Kroger, Home Depot, CVS Pharmacy and AutoZone, among many others.

“Compared to the previous sale, the Harrison, Ohio location was a higher price point asset situated on a larger 2.0-acre lot,” Metz added. “In addition to KeyBank’s highlights, we were able to tell a great story of the value of owning a large corner lot with traffic light access in one of southwest Ohio’s fastest growing markets.”

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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.