Sacramento, CA –  Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of a Rite Aid, located at 4241 Marconi Avenue, Sacramento, CA for $10,125,000. The deal represented the highest price point Rite Aid trade in California year-to-date. The transaction was handled by Associate Courtney Haubach, Market Leader Bill Pedersen, and Executive Vice President Chad Kurz.

 

Matthews™ represented the seller, a Matthews™ private client, who was motivated to sell and take advantage of the market’s compressed cap rates. After sourcing the buyer, the agents secured an efficient 60-day close and ensured a smooth process throughout the entire transaction.

 

“We were able to generate a ton of interest within the first few days of the property being listed,” Haubach said. “By leveraging our database, we created a competitive bidding environment for our client and made the deal as seamless as possible.”

 

The buyer was interested in the drugstore as the up-leg property in their 1031 Exchange. The investor was an owner of another Rite Aid location, making them a qualified and knowledgeable buyer.

 

“Both parties received great terms and a fast close with this sale,” Kurz said. “Using our connections and marketing platform we were able to bring forward valuable offers and ultimately sell at a record-price point for our client.”

 

For more information on this listing or to contact Courtney Haubach, Bill Pedersen, and Chad Kurz, 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.