Stan Johnson Company (SJC) closed the sale of a zero cash flow portfolio fully leased to CVS Pharmacy. The four-building, four-state portfolio of retail drugstores sold to a private 1031 exchange investor for approximately $19.2 million. SJC’s Josh Pardue and Zach Pool represented the seller, a leading New York City developer.
The properties were built between 2011 and 2013 with absolute triple net leases in place. They included: 12751 Nicollet Ave., Burnsville, MN; 400 S. Truman Blvd., Crystal City, MO; 101 E. Hall of Fame Ave., Stillwater, OK; and 2115 Union Ave. in Memphis.
“With zero cash flow transactions, the motivations are different than the drivers of traditional net lease transactions,” said Pardue. “In these transactions, the buyer’s investment focus is typically on wealth preservation and tax strategy, while the seller is traditionally focused on high-yield development, seeking to roll the equity into income-producing real estate.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
