Stan Johnson Co. Completes Sale of Colorado Walgreens in 10-Day Close

FRUITA, CO– Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a Walgreens located in Fruita, CO. The newly developed store is 100% leased to Walgreens for an initial lease term of 25 years.

The buyer was an individual investor on a tax deferred 1031 exchange.

Ken Hedrick (right)  and Jerry Hopkins (top left photo) of Stan Johnson Company represented the seller, a merchant Walgreens developer. Jim Gibson (bottom  right photo), also of Stan Johnson Company, represented the buyer.

“We were able to go from execution of the letter of intent to closing in only 10 days,” said Hopkins. “The teamwork between the seller, buyer, title company and brokerage teams was exceptional on this deal.”

Fruita, Colorado is located on Interstate 70, just 15 miles West of Grand Junction, Colorado. The 14,490 square foot store sits on a 1.77 acre parcel of land. This represents the 17th drugstore transaction for the Stan Johnson Company in 2009.

Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com