The Sale of 15011 N 75th Street

Challenge

This transaction presented multiple complex hurdles that required strategic navigation and market expertise. The property, a ±21,664-square-foot industrial property, had recently been vacated due to the previous tenant filing for bankruptcy. This created immediate complications related to both site deliverability and financial viability. Ensuring the asset was presented as clean and marketable to potential buyers became a top priority, requiring intensive work to resolve lingering occupancy and lease issues stemming from the bankruptcy.

 

Additionally, the broader economic landscape posed financing challenges for the buyer. With interest rates in flux and lenders tightening credit standards, securing appropriate financing required careful structuring and broker advocacy. Representing both sides of the deal, the Matthews™ agent needed to delicately balance the seller’s objective to dispose of a dead asset at a competitive price, with the buyer’s goal of acquiring a trophy property suitable for relocating his private equity firm.

 

Seller’s Objectives

To successfully close the deal, the agent focused on proactive communication and hands-on guidance throughout the entire process. During the inspection period, he directly addressed concerns related to the building, ensuring both parties had a clear understanding of the property’s condition. Transparency was key. The agent kept an open line of communication between the seller and buyer, helping to build trust and reduce uncertainty. Throughout a lengthy escrow period, he consistently engaged with all parties involved, advising both sides and keeping everyone aligned.

 

Result

The transaction delivered strong results for both the seller and the buyer. Through proactive marketing and strategic outreach, the seller received a strong offer early in the process and was able to close the deal in under 70 days from going under contract, despite delays related to financing. The property sold at one of the highest price-per-square-foot figures seen in the area in recent years. On the buyer’s side, the agent successfully helped secure financing in a challenging market and guided them through the acquisition of a premium real estate asset. This outcome was made possible through steady collaboration, transparent communication, and supported by the effective use of internal Matthews™ resources, including Marketing and Sales Operations.