Matthews™ Brokers $7M Sale of Atlanta Industrial Property

Atlanta, GA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Truck Service Depot, a single tenant industrial property located at 4785 Fulton Industrial Blvd SW, Atlanta, GA. Built in 2018, Truck Service Depot serves as a mechanical shop and repair service. The transaction closed $750,000 over the list price at $7,000,000. Associate Vice President Harrison Auerbach and First Vice President and Senior Director Alexander Harrold handled the transaction.

 

Matthews™ represented the seller, owner and developer of Truck Service Depot, who were interested in taking advantage of the substantially increased real estate value since its development. Agents completed a sale-leaseback allowing the client to execute a 10-year lease with the buyer, avoiding relocation or business disruption.

 

“The extraordinary value created by Matthews™ was driven in large by the lease structure handcrafted by us and our client,” Auerbach said. “By executing a long-term sale-leaseback, we extracted above-market prices while allowing our client to continue normal business operations. This is an enormous benefit to the future growth of the company and its employees.”

 

The buyer, a private equity firm, focuses on investments in growing markets with long-term leases and low coverage. The Atlanta asset fit these criteria plus offered a high-functioning 27,000 square foot building on 11.74 total acres.

 

“Using our proprietary marketing platform we sourced multiple offers, creating a competitive bidding environment, and eventually closing above the list price for our client,” Harrold said. “Overall, we structured a deal both the seller and the buyer were satisfied with.”

 

For more on this listing or to contact Harrison Auerbach and Alexander Harrold, please visit www.matthews.com.

 

About Matthews™

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.