Detroit, MI— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $13,043,916 acquisition of a Home Depot. Located at 5951 Mercury Drive, Dearborn, MI, the retailer is located within a Walmart-anchored shopping center that includes Value City Furniture and a Crunch Fitness. Situated on the corner of Ford Road and Southfield Freeway, the property obtains high traffic and visibility. Executive Vice President Chad Kurz and Associate Preston Schwartz handled the buy-side deal.
Matthews™ aided the buyer in achieving their goal of securing a stable retail asset in an active market. The 112,600-square-foot Home Depot facility is just a few blocks away from other retail chains outside of the shopping center, including Target, Best Buy, Burlington, Big Lots, Olive Garden, and PetSmart.
“The property had multiple offers on it, but Chad was able to leverage his reputation and relationships in the industry to secure the deal for our buyer,” said Schwartz.
The Home Depot, which achieved record sales during the pandemic, has over 2,300 locations across the United States, Canada, and Mexico, with more than 490,000 employees. Its position in the market will assist the retailer in weathering the storm caused by the market’s rising inflation and interest rates.
“Preston did a great job of using analytics to identify a high performing Home Depot. After securing the deal, Preston flew me out to visit the store during our due diligence to confirm the analytics and understand the real estate better…something few other brokers are willing to do these days,” said Kurz.
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.
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