The Property Closed at a 5.75 Percent Cap Rate
Phoenix, AZ— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $4,332,125 all-cash sale of a 18,871 square-foot industrial property located at 941 West Deer Valley Road, Phoenix, AZ. Senior Associate John Stroud represented the seller in the transaction.
The property’s seller was looking to capitalize on the strategic pricing and relinquish the property to exit the market. Matthews™ sourced the buyer through its extensive database and rigorous marketing strategy. The buyer achieved their goal of shifting their portfolio to strictly industrial properties. The deal closed at an aggressive cap rate under six percent.
“The intricate details of this deal, including sale-leasebacks, required close attention to detail, analysis, and underwriting, but ultimately both parties were satisfied with the outcome of this transaction,” said Stroud.
Located in the bustling metro of Phoenix, the facility is in proximity to multiple automotive businesses, shopping centers, and fast-food chains. It offers high visibility in a high-traffic neighborhood off Arizona State Route 101 and Black Canyon Highway.
“This property offers a unique opportunity for renovation, as it was built by the owners and had never been sold before,” said Stroud. “The new owners are planning on holding the asset to contribute to their portfolio and generate passive income.”
For more information, or to contact John Stroud please visit www.matthews.com.
About Matthews™
Matthews Real Estate Investments 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 400 agents and support staff in 14 offices across the United States, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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