August 12, 2020
Stan Johnson Co. has brokered the sale of a freestanding 19,097-square-foot retail building leased to Tractor Supply Company in Rome, GA. The sales price was not disclosed.
Located at 420 U.S. Highway 411, the property was built in 2005 on nearly eight acres of land. Mike Sladich, Joey Odom, Maggie Holmes, Mollie Alteri and Michael Watson of Stan Johnson Co. represented the seller, Interwest Capital Corp., in the transaction. The buyer was a California-based private investor represented by Jamie Harrison at Touchstone Commercial Properties.
“Tractor Supply properties have been in high demand due to their continued success during quarantine as an essential retailer,” said Sladich, senior director and partner at Stan Johnson Co. “We solicited offers and interest from across the country, and the seller ultimately decided to move forward with an all-cash California-based investor in lieu of other offers that would have needed to secure financing. The cap rate we achieved is a great example of the continued interest we’ve seen for long-term, essential retailer-leased assets.”
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