Matthews™ successfully facilitated the acquisition of a 7-Eleven convenience store in Ocean City, Maryland, closing at a sale price of $6,344,632. The transaction was completed under a compressed year-end timeline to meet the buyer’s tax planning objectives.

Challenge

In this transaction, the primary challenge was timing. The buyer needed the transaction to close before the end of the year for tax purposes, leaving a narrow window to complete due diligence, including third-party reports such as a Phase I Environmental Site Assessment and survey. Any delays risked missing the buyer’s critical deadline.

Strategy

The Matthews™ agent took a proactive, hands-on approach from the outset. Drawing on specialized expertise in the gas station and convenience store sector, the agent immediately engaged trusted third-party vendors and prioritized expedited timelines. Long-standing industry relationships allowed the Phase I Environmental Site Assessment and survey to be completed and delivered within 12 days, keeping the transaction aligned with the buyer’s deadline.

 

In addition, the agent ensured the asset met the buyer’s investment objectives by focusing on the strength of the tenant, the long-term lease structure, and the property’s prime Ocean City location. Consistent communication and attention to detail throughout the process helped anticipate and resolve potential delays before they could impact closing.

Result

The Matthews™ agent successfully guided the transaction to a year-end closing, enabling the buyer to achieve targeted tax objectives while acquiring a high-quality, net-leased asset backed by a strong national tenant. The disciplined execution, expedited due diligence, and strategic oversight resulted in a smooth closing and reinforced the client’s confidence in pursuing future acquisitions.

 

For more information, please reach out to contact@matthews.com