Tulsa, OK – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of 10 retail locations leased to BluePearl Veterinary Partners, the nation’s leading 24-hour emergency pet care provider, to Lexington Realty Trust for $52.6 million.
Joshua Pardue of Stan Johnson Company’s New York office represented both  parties in the transaction, including a private operating company and an institutional REIT.
”This transaction is significant due to the low benchmark cap rate achieved for a small-cap company, the unique nature of the veterinary use and the complexity of the master-lease structure," said Pardue.  "This structure had to address a diverse national real estate portfolio with challenging nuances on multiple assets and be completed in two closings.  SJC is pleased to have structured a transaction that helped capitalize a tremendous veterinary organization, focused on quality patient care, and to structure a win-win that facilitated the investment objectives of Lexington, one of the industries’ leading public REITs."
The portfolio consisted of 10 properties in various locations throughout the U.S. with a long term master lease.  The national portfolio comprised over 139,000 SF of emergency care medical space and administrative office.  The 10 properties were located in Texas, Michigan, Georgia, Illinois and Florida.  
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms.  Our net lease group is the largest team of professionals focused exclusively on the acquisition, disposition, and financing of net leased real estate.  Building on our 25 year foundation in the single tenant net lease industry, completing more than $14.8 Billion in transactions nationwide, Stan Johnson Company is aligned for continued growth.  A dynamic team approach, refined marketing processes and a foundation built on integrity, professionalism and relationships create a winning combination enabling the firm to consistently deliver quality service and superior results to each unique client.
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