From Secret Doors to Smooth Closings: How Matthews™ Delivered for a Complex Trust Sale
Challenges This was a trust-facilitated sale which, in many cases, means a less active ownership profile keeping up with the monthly needs of a multi-tenant industrial asset. The property itself was comprised of two buildings, with eight total tenants across roughly 16,000 SF on 1.93 acres on 945 Foothill Blvd in Azusa, CA. At the time that the agents acquired this listing, they discovered that none of the tenants had active leases and were initially unwilling to sign estoppels. Matthews™ agents Jack DeLine and Chris Nelson encountered a few interesting hurdles during the sale of this property. They uncovered a hidden illegal cannabis growth operation inside a secret door in one of the units. In addition, the property had a noncompliant individual living in a storage container behind the property, who had to be forcibly removed (multiple times). Lastly, the agents found a cloud on title from 50 years prior to an entity that no longer existed. Action Choosing the right buyer is crucial in any transaction. The agents selected a highly experienced group who not only had local knowledge but were also comfortable and willing to work with them as they problem-solved during escrow. On top of this, the seller had a deadline with a pending court case in order to pay out funds to the remaining trust. With these factors in mind, the agents had to work quickly to resolve all outstanding issues before closing. Result In the end, the agents were able to close this property within reach of their original listing price. They were also able to do so within a time frame that did not cause any delays to the payout period for the seller’s trust. This transaction serves as a testament to their understanding of investment deals and experience with choosing a buyer that they are certain will have the ability to close. Client Testimonial I had an outstanding experience working with Jack DeLine and Chris Nelson on the sale of two complex commercial properties held in a family trust. These transactions involved numerous challenges, including expired permits, unauthorized occupants, illegal operations, and active litigation. Jack and Chris demonstrated exceptional professionalism and expertise, navigating each obstacle with skill and composure. Their strategic approach and deep understanding of the legal and transactional requirements ensured a smooth and successful transfer of ownership. I felt fully represented throughout the process and had complete confidence in their ability to manage every detail. I highly recommend this team and look forward to working with them again on future sales.
Jack DeLine
Associate