{"id":1004471185,"date":"2020-08-14T03:23:04","date_gmt":"2020-08-14T11:23:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004471185"},"modified":"2020-08-14T03:23:04","modified_gmt":"2020-08-14T11:23:04","slug":"rg-properties-sells-2-midwest-retail-assets-for-32m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rg-properties-sells-2-midwest-retail-assets-for-32m\/","title":{"rendered":"RG Properties Sells 2 Midwest Retail Assets for $32M"},"content":{"rendered":"<div id=\"attachment_1004471218\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Walmart_MI-OH-e1597392965771.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004471218\" data-attachment-id=\"1004471218\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rg-properties-sells-2-midwest-retail-assets-for-32m\/walmart_mi-oh\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Walmart_MI-OH-e1597392965771.jpg\" data-orig-size=\"719,538\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Walmart_MI &#038; OH\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;3850 E. Grand River Ave. and 85 River Trace Lane. Image courtesy of Stan Johnson Co.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Walmart_MI-OH-e1597392965771.jpg?w=719\" class=\"wp-image-1004471218 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Walmart_MI-OH-e1597392965771.jpg\" alt=\"\" width=\"300\" height=\"224\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Walmart_MI-OH-e1597392965771.jpg 719w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Walmart_MI-OH-e1597392965771.jpg?resize=300,224 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004471218\" class=\"wp-caption-text\">3850 E. Grand River Ave. <em>Image courtesy of Stan Johnson Co.<\/em><\/p><\/div>\n<p>RG Properties has sold two freestanding big-box Walmart Supercenters in the Midwest. The assets, located in Howell, Mich., and Chillicothe, Ohio, traded to different buyers for a total of $31.6 million. Stan Johnson Co. brokered the transactions. Both properties came online in the 1990s and offer corporate guarantees on absolute triple-net leases.<\/p>\n<p>Consolidated Tomoka Land Co. acquired the Michigan property for $20.6 million. Located at&nbsp;3850 E. Grand River Ave., on approximately 20 acres, the&nbsp;214,000-square-foot asset is just off Interstate 96. The property is within a dense retail corridor and in the proximity of Cleary University.<\/p>\n<p>Agree Limited Partnership, an institutional investor, purchased the Ohio asset for $11 million. Located at 85 River Trace Lane, on some 20 acres, the&nbsp;204,200-square-foot retail building is just off U.S. Route 35.<\/p>\n<p>Senior Director Daniel Herrold and Associate Director Campbell Black of Stan Johnson Co., represented RG Properties. Managing Director Brandon Duff assisted&nbsp;Consolidated Tomoka Land Co. Last month, another team of Stan Johnson&nbsp;represented the seller of a single-tenant, <a href=\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-sells-single-tenant-fort-worth-industrial-facility\/\">18,561-square-foot industrial building<\/a> in&nbsp;Fort Worth, Texas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The freestanding properties in Michigan and Ohio changed hands in separate transactions.<\/p>\n","protected":false},"author":868,"featured_media":1004471218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,13,21742,21749],"tags":[39216,47855,44270,32917],"class_list":["post-1004471185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midwest","category-latest","category-retail","tag-consolidated-tomoka-land-company","tag-rg-properties","tag-stan-johnson-co","tag-walmart"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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