Challenge

Nestled in Redondo Beach, CA, 622 Esplanade is an attractive triplex offering well-maintained units and individual garage parking for its tenants. With its prime location adjacent to the Redondo Beach Pier, residents at 622 Esplanade enjoy convenient access to upscale shopping, dining, and entertainment options along the scenic Pacific Coast Highway and the vibrant Redondo Beach area. The seller’s primary goal for 622 Esplanade was to exchange into a triple net lease property, aiming to enhance returns and reduce ownership responsibilities. In search of a smooth transaction, Matthews™ agent Daniel Withers was presented with the opportunity to find an ideal buyer for the property.

Strategy

The strategy to close the deal for 622 Esplanade was built on open and frequent communication with the seller. Utilizing various marketing tools, the team efficiently managed change requests and email communication throughout the process. The agent actively engaged in handling paperwork and coordinating with the seller, facilitating a smooth back-and-forth exchange of information and negotiation. This proactive approach, combined with the established relationships and market expertise, ensured a successful outcome for the seller, aligning with their specific requirements and objectives.

Results

With the guidance of the agent, the seller found a suitable NNN Taco Bell property in Arizona, aligning with their exchange requirements. This outcome allowed the client to cash out from their previous property and invest in a new income-generating asset with reduced ownership responsibilities. The diligence and strong relationship with the agent played a pivotal role in facilitating a smooth transaction.