Trends & Insights

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. 

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of the Concord Station neighborhood center located at 8621 Concord Mills Boulevard in Concord, North Carolina. The 45,569-square-foot retail center was 100 percent leased at the time of sale. Billy Benedict of Stan Johnson Company represented the South Carolina-based private buyer. The seller was a developer based in Florida. The asset was acquired for approximately $15.2 million.  “Concord Station will be a great long-term investment with its central location at the heart of the super-regional hub along one of Charlotte’s major growth corridors. The property benefits from its adjacency to Concord Mills which includes Bass Pro Shops, Dick’s Sporting Goods and Best Buy and is the largest single-site tourist attraction in North Carolina,” said Benedict, Associate Broker in Stan Johnson Company’s Alpharetta, Georgia office. “The buyer already had six similar multi-tenant centers in the Charlotte metro area, and therefore Concord Station was a very logical fit for their expanding portfolio.”   Located 15 miles northeast of Charlotte and about two miles west of Charlotte Motor Speedway, the center features nine tenants including McAlister’s Deli, Guitar Center, The UPS Store and Big Blue Swim School.  

Originally published by Commercial Property Executive Stan Johnson Co. has negotiated the $48.7 million sale of 5731 Bickett St., a 56,000-square-foot retail project located in Huntington Park, Calif.  The property’s former owner is Gryphon Capital, according to CommercialEdge data.  Jason Maier of Stan Johnson represented the 1031 Exchange buyer, a New York-based private investor. Funds for the acquisition were provided by Principal Life.  Developer Shane Cos. is expected to complete the property in January 2023. Construction on the space began in June 2022  Upon completion, Target will fully occupy the space as part of a long-term triple net lease. The store itself will host a Starbucks café, in addition Tesla charging stations. The property will be situated within 5 miles of downtown Los Angeles and the Long Beach Freeway, offering convenient access for consumers citywide.  The sale of the future Target location takes place as the nation’s retail property sector experiences an unprecedented series of transformations that have resulted in an oversupply of space, brought on in no small part by the onset of the COVID-19 pandemic and the rise of e-commerce.  To make the most profitable and effective use of their spaces, developers have taken to leasing their spaces following their announcement, making them move-in ready as soon as construction is completed, as well as placing them in the context of their surroundings and the communities they serve. 1031 Exchanges are also on the rise, as investors seek less management and revenue-intensive properties, opting for single tenant net leases, according to a second quarter 2022 report from Marcus & Millichap.  LA's uneven recovery Still, Los Angeles County unevenly recovers, seeing both gains in its employment and retail construction pipeline and losses in its absorption rates, according to recent data from NAI Capital. The market’s net absorption rate turned negative as of the first quarter of 2022. The city only had 955,000 square feet of space in its construction pipeline as of the second quarter, while vacancy fell by 10 basis points, Marcus & Millichap data shows. 

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Silver Lake Village, an 87,750-square-foot shopping center located at 2311 Southeast Adams Boulevard in Bartlesville, Oklahoma. Anchored by T.J. Maxx, Ross Dress For Less, Petco and ULTA, the center was fully leased at the time of sale to 12 tenants. Stan Johnson Company’s Margaret Caldwell and Patrick Kelley represented the seller, GBT Realty Corporation based in Brentwood, Tennessee. A Florida-based 1031 exchange private buyer acquired the asset for approximately $15.3 million.  “Silver Lake Village was the perfect investment opportunity for this 1031 exchange investor who submitted a pre-emptive offer shortly after we hit the market,” said Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.   The property is situated on 9.41 acres and shadow-anchored by the only Lowe’s within 30 miles.  The shopping center boasts a signalized intersection with excellent visibility from Adams Boulevard and the adjacent recreational area, Lee Lake. Non-anchor tenants include Maurices, Kay Jewelers, Verizon, and other national retailers.  “With the top-quality tenant lineup and minimal competition, Silver Lake Village is the premier center in the region and was highly sought-after by investors,” said Kelley, Associate Director in Stan Johnson Company’s Atlanta, Georgia office.   “We are very pleased to have been part of the Bartlesville community for the last seven years,” a representative from GBT Realty Corporation added. 

We are excited to announce that industry news leader, GlobeSt.com, has named Ryan Butler, Managing Director and Partner, as a Net Lease Influencer for 2022. Ryan has a deep track record across the net lease sector, and with more than two decades of experience, he has made a consistent impact and significant contributions to the industry. Please join us in congratulating Ryan on this outstanding nomination!  Net Lease Influencers 2022 Excerpt of article originally published by GlobeSt Net lease has always been a stable asset class, attracting investors intrigued by its regular cash flow and strong fundamentals. Now it is wobbling a bit as the economic uncertainty clouds pricing but few believe that will last long. Still, it is times like these that require the best of the best to navigate the space and we are confident we have picked that crew in our 2022 net lease influencers. We hope you enjoy their stories as much as we did as we made our selections.   Ryan Butler Known for finding deals and solving problems, Ryan Butler is focused on helping clients acquire and divest net lease assets across the retail, industrial, office and healthcare sectors as managing director and partner at Stan Johnson Co. Butler’s 22 years of experience have helped him develop deep relationships in the net lease arena. During his career, he has closed $2.55 billion in sales, and in the past three years, he has sold more than $1.1 billion of investment properties across nearly 200 individual transactions. In recent months, Butler notably achieved record-low cap rates for a BJ’s Wholesale Club in Massachusetts and a McDonald’s restaurant that sold in Texas. In addition, he brokered the sale of three single-tenant retail portfolios for a combined $75.5 million. Butler’s production volume made him eligible to be inducted into the firm’s inaugural class of partners in 2020, an opportunity offered to SJC’s top sales producers that recognizes outstanding contributions and commitment to providing extraordinary service to clients. Butler serves as a thought-leader in the industry by frequently contributing to whitepapers and providing expertise on net lease for media outlets.  Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved. 

We are excited to share that Zach Harris, Director, as been recognized as an Industrial Influencer by industry news leader, GlobeSt.com. Zach’s ability to build deep, lasting relationships and his unwavering commitment to client service are just a few characteristics that make him qualified for this exceptional recognition!  Industrial Influencers 2022 Excerpt of article originally published by GlobeSt The industrial asset class shows little sign of wear and tear, although it is equally true that the category is not surging as it did last year. That, though, is a function of the economy and not necessarily industrial’s fundamentals. Change, however, is underway in the category as we have discussed elsewhere in this issue, and it will require the top men and women to continue to navigate these new trends. We believe we have picked that top talent with this year’s industrial influencers.  Zach Harris Colleagues say Zach Harris has an incredible drive to succeed both in his personal and professional life, and that he balances this ambition with humility, kindness and a deep sense of fairness that he offers to both his clients and co-workers. Harris began his industry career at Stan Johnson Co. 11 years ago, and he now serves as a director at the firm, where he specializes in the disposition, acquisition and capitalization of net lease assets for clients nationwide. With a strong track record in the industrial space, he has made a name for himself in the industrial outdoor storage sector by participating on panels and authoring numerous thought-leadership pieces that explore trends in the growing niche. During his tenure at the firm, Harris has contributed to the closing of more than 240 transactions, totaling more than $3.75 billion in transaction volume. Some of his more recent industrial transactions include an IOS property in St. Louis that traded in a 1031 Exchange, the sale of a Texas IOS facility leased to Herc Rentals, a Midwest warehouse that sold to a REIT for $12.5 million, and a multi-tenant industrial property that closed for $14 million. Harris previously received a Stan Johnson Co. core value award for integrity – a peer-nominated recognition that is awarded annually. During the pandemic, his production volume increased, and he was elected president and board member of NAIOP’s Oklahoma chapter.  Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved. 

We are excited to share that Stan Johnson Company has been recognized as a Net Lease Influencer by industry news leader, GlobeSt.com. With more than four decades of experience, you can count on our team of professionals to help you navigate the nuances of the net lease sector.  Net Lease Influencers 2022 Excerpt of article originally published by GlobeSt Net lease has always been a stable asset class, attracting investors intrigued by its regular cash flow and strong fundamentals. Now it is wobbling a bit as the economic uncertainty clouds pricing but few believe that will last long. Still, it is times like these that require the best of the best to navigate the space and we are confident we have picked that crew in our 2022 net lease influencers. We hope you enjoy their stories as much as we did as we made our selections.  STAN JOHNSON CO. With a historical focus on the single-tenant net lease sector, Stan Johnson Co. is in its fourth decade of operation and has expanded its service platform. Founded in 1985, the firm, led by president and CEO Stan Johnson, provides acquisition, disposition, sale-leaseback, capital markets and advisory services for institutions, developers, investment funds, corporate occupiers and private investors across the US. The firm’s expertise includes single-asset and portfolio sales, as well as sale-leaseback transactions, 1031 exchanges and zero cash flow transactions that span all types of commercial assets including retail, office, industrial, healthcare and specialty properties. The firm has closed more than 6,700 net lease transactions totaling more than $42 billion in sales activity. In the past three years, Stan Johnson Co. closed more than $11.5 billion in net lease transactions, including a two-location portfolio of Midwest grocery stores for $18.7 million, a $12 million Home Depot ground lease in Ohio, a newly-built freestanding restaurant in Nashville that set a new cap rate record for the metro area, and a three-transaction portfolio that included 40 net lease properties across seven states that sold for $75.5 million. In 2021, the firm also launched an affiliate company, Four Pillars Capital Markets  — a real estate capital markets brokerage firm that provides debt and equity financing to commercial real estate investors as they acquire or refinance assets.  Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved. 

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of an 817-unit self-storage facility in the Mountain West region of the U.S. Dana Summers of Stan Johnson Company represented the seller, a Mesa, Arizona-based developer. The property was sold to Public Storage, a publicly traded REIT, for an undisclosed price.    “The execution by both seller and buyer was flawless, coupled with a relatively quick closing,” said Summers, Senior Director in Stan Johnson Company’s Tempe, Arizona office. “The acquisition was a perfect match between buyer and seller, and we were very pleased to broker such a seamless execution between the two parties.”  The property was constructed in 2008 and is situated on 5.62 acres. The facility is located in a growing area, with dense residential population and strong projections for future growth.