Investment Sales

Company Rep: Transamerica Life Insurance Building Name: Village on Whitesburg Building Size: 120,000 SF Description: Johnston Gooch represented the seller, Transamerica Life Insurance, in the disposition of a 1980’s vintage grocery anchored shopping center in a highly sought after location in Huntsville, AL. At the time the property went to market, the lead tenant, Winn Dixie, was in a precarious financial situation. By being keenly aware of any changes in the financial status of the company, and by highlighting other attributes of the property (a highly visible location and strong demographics), our team was able to realize maximum value for our client. Because our marketing efforts remained focused on those that saw value in the physical aspects of the property, the eventual bankruptcy filing of Winn Dixie in the middle of the marketing practice had no adverse affect on the ultimate offer. In the end, the property traded hands for well over $100 per square foot and at a cap rate below 7.5%, almost 200 basis points above where similar properties have traded.

Company Rep: Fourth Avenue Investment Partners Building Name: SouthTrust Plaza Building Size: 77,120 SF Description: Johnston Gooch represented the buyer, Fourth Avenue Investment Partners, in the acquisition of this downtown office building. Through the acquisition of a building with close to 35,000 square feet of vacant space, Crews and Perry re-positioned the building to a truly unique asset. By capitalizing on the high demand for ownership among small business owners, the purchasers of this asset offered ownership to those seeking to lease space. This structure was both thought up and arranged by the Johnston Gooch team.