Matthews™ Represented Buyer and Seller

Richmond, TX— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $5,560,000 sale of a PetSuites facility located at 20430 Southwest Freeway, Richmond, TX.  The in-house acquisition was facilitated by Senior Associate Kirby Hayes, Associate Vice President Andrew Evans, along with First Vice Presidents and Senior Directors Rahul Chhajed and Michael Moreno, representing the seller. Senior Associate Daniel Gonzalez represented the buy-side of the transaction.

 

The seller, a Matthews™ developer client, was offered a sale price within 15bps of the asking price, and the deal was conducted within 35 days. The buyer completed the deal in a 1031 Exchange transaction, utilizing a previously acquired property through Matthews™.

 

“The buyer capitalized on the property’s new-build construction in a state with no income tax,” said Gonzalez. “We were able to achieve the buyer’s goal of increasing cash flow with a stable lease agreement that met the financial objectives of both parties.”

 

20430 South West Freeway is located at a prime location with several nearby retailers, dining institutions, and is less than a mile from the Memorial Hermann Sugar Land Hospital. There are currently 60+ PetSuites stores throughout the nation, with 32 percent located in Texas.

 

“This transaction was made possible by the seller’s faith in the process and our ability to reach a successful outcome,” said Hayes.

 

For more information or to contact agents, 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 15 offices across the United States, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.