Austin, TX – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of 1201 N Lakeline Blvd, a 21,061 square foot retail strip center located in the affluent Austin suburb of Cedar Park, TX. The property is 94.2 percent occupied, including prominent healthcare providers and local eateries. The transaction was handled by Associate DeWitt Goss.

 

Matthews™ represented the seller, Saadeh Properties, who was interested in cashing in on the hot Austin market. The asset was near the end of the investor’s hold period with minimal lease up remaining, making it a favorable time to dispose of the property. The seller received over five offers and closed at the highest price point for a retail property in the Cedar Park market in 2021.

 

“Using our robust database and marketing platform, we were able to generate multiple offers from reputable groups both locally and nationwide, creating a competitive bidding environment,” Goss said. “This led to great terms for a contract and top of market pricing.”

 

The buyer, Legacy Properties, acquired the retail investment to complete a 1033 Exchange. Matthews’ agents facilitated three lease modifications during escrow to improve financing for the buyer.

 

“We assisted in modifying several leases while under contract to achieve more favorable financing for Legacy Properties while helping the seller accomplish their investment goals,” Miller said. “Furthermore, we successfully met both parties’ timelines.”

 

For more information or to contact DeWitt Goss, www.matthews.com. This transaction was sold in conjunction with Broker of Record, Kyle Matthews, Lic Number 678067 (TX).

 

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. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.