REBusinessOnline

Stan Johnson Co. Brokers $3M Sale of Cincinnati Retail Center

CINCINNATI — Stan Johnson Co. has brokered the sale of a 25,600-square-foot retail center located at 7074 Harrison Ave. in Cincinnati for $3 million. The property was 94 percent leased at the time of sale to seven tenants. Constructed in 2006, the two-story building sits on 2.3 acres. Patrick Metz of Stan Johnson represented the seller, a California-based private investor. MAGNA Properties, an Ohio-based individual investor, purchased the asset as part of a 1031 exchange. The sale reflects a cap rate of 9.1 percent.

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