21 Feb 2018
Youngstown, Ohio – Matthews Real Estate Investment Services™, the nation’s fastest-growing brokerage firm, recently sold a 154,404 square-foot Walmart Supercenter for $13.57 million in Youngstown, Ohio. The property, located at 1300 Doral Drive, is situated in the center of Southland Crossings, one of the most dominant anchor lineups in Northeast Ohio. The transaction was led by Aron Cline, Senior Vice President and Senior Director for Matthews™ Single-Tenant Net-Leased Division.
Matthews™ represented the seller and sourced the buyer in the transaction. The seller, a repeat Matthews™ client, was price-motivated and looking to take advantage of the cap rate environment in this market. Cline hit an aggressive cap rate considering the length of the primary lease term remaining for the seller by sourcing a private real estate investor from the Matthews™ propriety database. The buyer, added an excellent performing asset with strong sales and credit to their portfolio.
“Within the first month of marketing the property I was able to generate a dozen offers from our proprietary marketing system and database of active investors. In under 60 days, we closed with the first buyer we went under contract with. The property is an attractive investment opportunity due to the fundamentals of the real estate, location, credit, and tenant.”
For more information regarding the sale of Walmart Supercenter in Youngstown, Ohio or if you have any questions relating to your STNL investment(s) please do not hesitate to reach out to Aron Cline for more information. Cline has over 25 properties currently listed for sale with 11 under contract, and has sold over 60 properties nationally over the past 12 months. To view other listings please visit www.matthews.com. Currently, Matthews™ has another Walmart Supercenter for sale in Cincinnati, Ohio.
About Matthews Real Estate Investment Services™:
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in Single Tenant Net Lease, multifamily, shopping center, management, leasing, portfolio disposition and 1031 exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit WWW.MATTHEWS.COM.
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