Stan Johnson Co. Closes $7M Atlanta Office Sale
- May 05, 2020
Stan Johnson Co. has completed the $6.7 million sale of a fully leased office building in Atlanta. The 25,416-square-foot facility serves as the headquarters of Big Nerd Ranch, a technology company. The tenant recently completed a lease extension at the property.
A California-based private investor purchased the property in a 1031 exchange. According to public records, Standard Insurance Co. provided $3.5 million in acquisition financing. The long-term loan has a May 2045 maturity date. The asset previously changed hands for $4.6 million in November 2014, according to DeKalb County records.
The building is located at 200 Arizona Ave. in the historic Kirkwood neighborhood. Developed in the 1950s, the property underwent renovations in 2014. Situated on a 2-acre site, the facility is within an opportunity zone.
The Stan Johnson Co. team that represented the seller, a Dallas-based private investor, included Mollie Alteri, Joey Odom, Mike Sladich and Maggie Holmes. Earlier this year, another Stan Johnson Co. team facilitated the sale of a 402,604-square-foot distribution center in Findlay, Ohio.