Stan Johnson Brokers First US Sale of Lidl Store
- Nov 13, 2020
Blanchard Real Estate has sold a Lidl store in Marietta, Ga., to a foreign investment fund, for $4.8 million. The ground lease transaction marks the first U.S. sale of the international grocery store chain since entering the market in 2017. Stan Johnson Co. represented the seller.
The asset is located at 670 Whitlock Ave., some 21 miles northwest of central Atlanta. The 3.1-acre site is part of a prominent retail cluster in western Marietta, including tenants, such as Dollar Tree, McDonald’s and Raven’s Nest Game.
Construction of the 29,136-square-foot building was finalized this year. The property holds a 20-year, absolute triple-net lease with regular rent increases.
Stan Johnson’s Mike Sladich, Joey Odom, Maggie Holmes, Mollie Alteri and Michael Watson worked on behalf of the seller. Last month, the company arranged the $18.5 million sale of a Whole Foods Market store in Germantown, Tenn. Benderson Developments acquired the roughly 36,500-square-foot retail asset.