Property Bought in 1031 Exchange

Andalusia, AL —Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $5,800,000 sale of a grocery-anchored multi-tenant retail center located at 540 West Bypass, Andalusia, AL. Matthews™ Associate Alexander Machado, Senior Associate Daniel Gonzalez, and First Vice President Johnny Blue Craig represented the seller in the transaction.

 

The retail center is 91,690 square feet and anchored by Tractor Supply, Marvin’s, and Pick-N-Save, featuring an e-commerce and recession-resistant tenant mix. The property was 100% occupied at the time of sale.

 

“Strong anchors made this investment an attractive option for buyers as it benefits from a high-traffic location and a top-performing local grocer,” Machado said. “We were able to market these factors and create a competitive bidding environment.”

 

The seller is a national investor whose objective was to reposition capital. Matthews™ agents sourced the buyer, who was in a 1031 exchange.

 

“We had an existing relationship with both the buyer and seller, which made for a smooth escrow and an efficient closing,” Craig said.

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.