Stan Johnson Company has completed the ground lease sale of a Home Depot at 1035 W. Alexis Road in Toledo, Ohio.
The single-tenant big-box home improvement warehouse totaled 141,610 square feet on 13.3 acres. Stan Johnson Company’s Chad Byerly represented the seller, a local developer. The property was acquired by a private 1031 exchange investor for $12 million.
The property is located six miles northwest of downtown Toledo and serves a customer base of about 192,000 residents in a five-mile radius. Strategically located in a dense retail corridor, neighboring tenants include Lowe’s, Ollie’s Bargain Outlet, Kroger, Target and many other national retailers.
