July 30, 2018 (Chicago, IL) – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of Penn & American – a 58,531-square-foot retail center anchored by Fresh Thyme Farmers Market. The center is located at 2100 West 80th Street, Bloomington, Minnesota. The buyer was Wisconsin-based SARA Investment Real Estate, and the asset traded for $19.0 million on July 11, 2018.
Stan Johnson Company’s team of Tom Fritz, Brandon Duff, Matt Spangenberg, and Mackenzie Wolfgram represented the seller, a Minneapolis-based developer. The buyer represented itself.
“Given the stellar location and Stan Johnson Company’s extensive marketing reach, we had interest from buyers across the U.S. and internationally that led to nearly 20 offers,” said Fritz, Senior Director in Stan Johnson Company’s Chicago office. “The amount of interest we received from institutional and private investors speaks to the strength of the Minneapolis market, as well as the developer’s ability to deliver an A+ quality property.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.