Stan Johnson Company Completes $7.6 Million Sale of Planet Fitness-Anchored Shopping Center in Tallahassee, Florida

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Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 59,160-square-foot retail center anchored by Planet Fitness. The north Florida property is located at 1925 North Monroe Street in Tallahassee, Florida. Stan Johnson Company’s Brett Puckett represented the seller, an individual investor based in Tennessee. A private 1031 exchange buyer acquired the property for $7.6 million. 

“This is our team’s sixth Planet Fitness-related transaction in the past year and speaks to the strength of the Planet Fitness name and our timing in the market,” said Puckett, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “We achieved our win/win objective by exceeding our seller’s pricing expectations and having a buyer walk away satisfied with a fantastic investment property.” 

The property, minutes from Interstate 10 in north central Tallahassee, is situated on 4.93 acres and was built in 1977. In addition to Planet Fitness, the retail center includes two additional tenants and neighboring tenants include Publix, Starbucks, Walgreens and more national retailers. The tenants operate on long-term triple net leases. 

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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.