How Matthews™ Turned a 50-Year Ownership Into a Record-Breaking Sale
The Circle K located in Twentynine Palms, California, encompassed 3,259 square feet and represented a key asset in a long-held portfolio. The property was successfully sold for a price exceeding the list value by $100,000, continuing a record of achieving above-list results for this client’s Circle K dispositions. Challenge The property presented a unique set of circumstances. The sellers had owned the site for more than five decades, and the existing lease was approaching expiration with no renewal options remaining. Many prospective buyers were hesitant to proceed without securing a lease extension from Circle K prior to closing. The challenge was to identify a qualified buyer confident enough in the asset’s value and market fundamentals to move forward without reliance on a lease renewal or financing contingencies. Strategy Having previously assisted the sellers with the sale of multiple Circle K sites, the Matthews™ agent understood their goal of gradually divesting their portfolio while optimizing value under changing market conditions. The marketing strategy emphasized transparency about the lease status while showcasing the property’s long-term performance and location advantages. After multiple offers were received, the agent carefully vetted the buyer pool, narrowing it to three strong C-store operators across California. Each demonstrated operational expertise, local market knowledge, and available capital. This focus on buyer credibility and execution strength ensured a seamless transaction process. Result The final sale closed $100,000 above the original list, with a buyer who required no financing contingency or lease extension. This transaction marked the sixth consecutive Circle K property sold at or above list price and the third above-list result achieved for this client specifically. The sellers successfully advanced their strategic goal of portfolio divestment while capturing exceptional value despite the lease’s pending expiration.
Chase Cameron
Senior Associate
