NNNew Player in Town
Want to get a jump-start on upcoming deals? Meet the major San Francisco players at one of our upcoming events!
|Its name is Stan Johnson, it comes from Wiscon… er, Oklahoma. And, the single tenant, net lease investment brokerage firm from Tulsa, which focuses strictly on such product, just opened a regional office in Palo Alto as part of a national expansion.|
|Yesterday we chatted with the new office’s lead brokers, Justin Stark and Andrew Barnes. They tell us now’s a good time to be in that space—transaction volume may be down because there’s less supply, but pricing is within striking distance of the heyday numbers of 2006.|
|The firm set up shop at 530 Lytton Ave, handling office, industrial, and retail investment sales. All three categories are hot, but Andrew says it has less to do with product type and more to do with credit tenants. Justin notes presales are prevalent—many investors find it attractive to secure a property before it’s delivered to a tenant (once the tenant gets it, it starts tracking mud all over the place) and not compete with the rest of the 1031 market.|
|Andrew founded National NNN Investment Group in 2008. Before, he was an SVP with Sansome Pacific Properties and its Battery Commercial Corp brokerage division. He specializes in operational real estate such as C-stores, fast food, casual dining, and oil change shops. Helping establish the Stan Johnson brand out West isn’t all he’s excited about—he also has a 10-week-old son.|
|Justin joined Stan Johnson Co from the Cornish & Carey Commercial net leased investment group in San Francisco. He was born and raised in the Bay Area, not far from his new office. He specializes in retail leased investments with an emphasis on drug stores. While there aren’t as many Walgreens opening across the country, there’s a lot of 1031 buyers chasing those deals.|