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Los Angeles, CA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of industrial properties of 2140 Davie Avenue and 5830 Triangle Drive, located in Commerce, CA for $17,500,000. The transaction was completed by Associate Brendan Phinny and Vice President and Senior Director Alexander Harrold.
Matthews™ represented the seller, International Tea Importer. The company was interested in selling to take advantage of the booming industrial market in Commerce and inject capital back into their growing business. The seller received a compelling offer and a favorable sale-leaseback on both properties.
“The Commerce industrial market is one of the strongest industrial markets in the country,” Phinny said. “We’ve seen a rapid increase in property values following the pandemic making this a perfect opportunity for our clients to make a profit and invest back into their business.”
The buyer, Longpoint Realty Partners, sourced through Matthews™ shared database, was looking to grow their portfolio in a strong West Coast market. The buyer received two highly functional industrial properties with a secure tenant.
“We were able to meet and exceed both the buyer and sellers’ expectations,” Harrold said. “We brought the seller a desirable off-market offer and helped them negotiate a favorable lease while presenting the buyer with an opportunity that met their acquisition criteria.”
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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