Stan Johnson Co. Completes Sale of Blue Cross Blue Shield Building in Rockford, IL for $12.3 Million

Rockford, IL, Dec. 20, 2010 –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 77,200-square-foot office building 100 percent occupied by Blue Cross Blue Shield of Illinois to a California-based individual investor for $12.3 million.

The property is situated on 10.5 acres at 2787 McFarland in Rockford, IL.

Craig Tomlinson (top right photo), CCIM of Stan Johnson Company represented the buyer, a Chicago-based individual investor, in the transaction. Kevin Lynch of Sperry Van Ness represented the seller..

The property is one of two Blue Cross Blue Shield customer service centers in the upper Midwest serving the company’s health insurance clients. Built in 1999, the facility was built by Blue Cross and was sold in a sale-leaseback scenario in 2000.

“The health care industry continues to grow and provides commercial real estate investors an attractive investment for buyers looking for stability,” said Tomlinson.

“In this transaction, the buyer benefitted from a long term, triple net lease with Blue Cross Blue Shield, a leading health insurance company, and the seller secured a favorable sale price.”

Contact: David Ebeling, Ebeling Communications, (949) 278-7851    david@ebelingcomm.com