SPRINGVILLE, UT, Aug. 5, 2009 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of an 82,945-square-foot office building, 100 percent leased to Neways International Inc, to Duluth, GA-based Springville LLC for $14 million.The property is located at 2089 W. Neways Drive in Springville, Utah.
Stan Johnson (top right photo) is the company's CEO.Brad Pepin (middle left photo) of Team Hughes with Stan Johnson Company represented the seller, Dallas-based Cardinal Capital Partners. Tom Mullen of United Country –Tom Mullen & Associates represented the buyer.
"This transaction was a win/win for both buyer and seller,” said Pepin. “The buyer was able to assume better-than-market non-recourse financing that generated double-digit returns, while the seller was able to monetize the asset as part of their portfolio management strategy."Pepin went on to say, "In today's market environment, it's rare to see large net lease office transactions being done. This $14 million class A office sale was priced correctly with the assumable debt in place, and was closed with a buyer that has a strong track record in commercial real estate.
We're firm believers that large office, industrial and retail transactions can still get done today if you properly manage expectations on both sides.”
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms.
Our net lease group is the largest team of professionals focused exclusively on the acquisition, disposition, and financing of net leased real estate.
Building on our 20 plus year foundation in the single tenant net lease industry, completing more than $8 Billion in transactions nationwide, Stan Johnson Company is aligned for continued growth.
A dynamic team approach, refined marketing processes and a foundation built on integrity, professionalism and relationships create a winning combination enabling the firm to consistently deliver quality service and superior results to each unique client.
Contact: David Ebeling, Ebeling Communications (949) 278-7851 david@ebelingcomm.com
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