Multi-Tenant Industrial Property Sold

 

McDonough, GA — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of McDonough Industrial Park in McDonough, GA. The industrial park features five buildings totaling 90,300 square feet. Matthews™ Senior Associate Nick Watson and  VP & Associate Director Harrison Auerbach represented the seller in the transaction and sourced the buyer.

 

The investment sits on 6.35 acres in Henry County, with a coverage ratio of 32.65%. McDonough Industrial Park was sold by a GA-based company and purchased by an East Coast industrial investor. The property sold for $5,825,000. The five buildings housed 13 tenants occupying various-sized units. Every tenant operated on shorter-term leases, which presented unique challenges during the sales process.

 

“We ran a quick and effective marketing process that resulted in over five offers within the first two weeks of marketing, making for a competitive negotiation process,” Watson said.

 

“Our local market knowledge and direct relationships with buyers in the space drove the sales price up much higher than originally projected.  We sourced offers from both in-state and out-of-state, leveraging our technology and widespread database,” Auerbach said.  “The sale boasted an aggressive in-place cap rate of below 5%, but we were able to find a buyer that focused on the future potential of the property.  Additionally, we assisted our seller with his 1031 exchange goals by lining up closings simultaneously.”

 

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 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.