Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a 10,947-square-foot retail center located at 102 North Broad Street in Winder, Georgia. At the time of sale, Bank of America Center was more than half occupied by Bank of America and featured two vacant suites. Stan Johnson Company’s Doug Clyburn and Julie Clyburn represented the seller, a private investor from Watkinsville, Georgia. The buyer, a developer from Atlanta, Georgia, was represented by Jeff Enck of Stan Johnson Company. The asset traded for more than $1.0 million reflecting a 5.60 percent cap rate.
“Bank of America had three years remaining on its triple net lease, and together with the two vacant suites, provided a value-add component to the property,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “The center is located in the heart of Winder, Georgia, which is a prosperous and growing community in Barrow County – the 24th fastest growing county in the nation.”
Originally built in 1970, Bank of America has operated at this site for more than 38 years. The property is located on a 1.8-acre corner lot with direct access to three roadways and visibility to one of the town’s busiest thoroughfares. The city of Winder is located 50 miles northeast of downtown Atlanta and approximately 20 minutes west of the University of Georgia’s main campus in Athens.
“The buyer was pleased to acquire a well-located property with the rare combination of credit and upside,” added Jeff Enck, Associate Director in Stan Johnson Company’s Atlanta, Georgia office.
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 provides 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 $40 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. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.