Madison, WI – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of a Pick N’ Save, located at 2502 Shopko Drive, Madison, WI, for $7,958,000. The transaction was brokered by Associate Bryson Boylan and Vice President and Regional Director Johnny Blue Craig.
Matthews™ represented the seller, a national investor, who was interested in capitalizing on the high prices in the net lease retail market. Grocery stores have performed well during and post-COVID-19, reporting strong annual growth, rent increases, and low cap rates. The seller received a profitable price point for the property and closed before the end of the year, accomplishing their sale objectives.
“Grocery stores are a hot commodity right now, especially in the Midwest, due to the higher yields the region offers investors,” Boylan said. “We used this knowledge to execute our client’s main goals of receiving a great price and completing the transaction prior to year-end.”
The buyer, an experienced net lease retail investor, was looking to expand their grocery portfolio in the Midwest. The investor received an in-demand asset and a timely close, going under contract and closing in under 60 days.
“It’s our goal to find the best investment solutions available. Our grocery specialization and strong relationships allowed us to source a qualified buyer quickly and manage the deal from start to finish with very minimal challenges,” Craig said. “Both parties were satisfied with the outcome and on track for their long-term investment goals.”
Matthews Real Estate Investment 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. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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