Stan Johnson Co. Brokers $24.5M Sale-Leaseback of California C-Store Portfolio
LOS ANGELES — Stan Johnson Co. has completed the $24.5 million sale-leaseback of six Mobil-branded convenience and gasoline retail sites in Los Angeles.
Matt Lipson, Chris Lomuto and Milo Spector of Stan Johnson’s Portland, Oregon and Walnut Creek, California offices represented the seller/operator in the transaction. Known as 1234 M Division Street, the seller/operator is a boutique carwash and convenience store operator based in southern California.
A New York-based institutional investor purchased the portfolio at a 7.25 percent capitalization rate.