STAN JOHNSON CO. COMPLETES $1.9 MILLION SALE OF GROUND LEASE

SPRING, TEXAS — The Houston office of Stan Johnson Co. (SJC) has completed the sale of an approximately 1.9-acre ground lease, located at the northwest corner of Interstate 45 and Louetta Road in Spring, for $1.61 million. The property currently contains an 8,000-square-foot Cheddar’s Casual Café restaurant. SJC’s Daniel Herrold and Hunter Haggard represented the seller, Houston-based Louetta Towne Center Ltd. Jay Levelll of Charlotte, N.C.-based Berkeley Capital Advisors represented the buyer, a New York-based individual investor participating in a 1031 exchange.