Challenge

This Exxon location offers not only gas and convenience store (c-store) essentials, but also a restaurant, Yoli’s. For two years, the owner worked with other brokerages in an attempt to sell this property for the highest price possible but was ultimately unsuccessful. After the Matthews™ agents pitched the value that Matthews™ delivers and the proven track record, the seller agreed to list with the company.

 

Strategy

Leveraging industry-leading marketing and centralized client database, Matthews™ generated multiple offers within three months of marketing the property. Matthews™ was able to create a competitive environment, achieving the price point the seller wanted. Yoli’s above-average sales influenced the tenant to submit an offer, but another buyer came in at a higher price. The loan process experienced some challenges, causing the property to stay under contract for longer than expected.

 

Results

Matthews™ achieved the seller’s desired price point and lease at Yoli’s through Matthews™ industry connections and in-house lender resources. By executing a sale leaseback transaction, which is a transaction involving the owner-operator selling their real estate while simultaneously leasing it through the buyer, the client’s eight year NNN lease term increased to 13 years. Matthews™ specialization in Texas c-stores helped generate multiple offers and closed within $100K of the list price.