Agents Generated Numerous Offers, Closing Above Final List Price
Los Angeles—Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $5,720,000 sale of a Sun Valley industrial property located at 11695 Sheldon Street. The agents generated seven offers, ultimately closing above the property’s final list price. Senior Vice President and Senior Director Alexander Harrold, Senior Vice President and Market Leader Daniel Withers, Associate Vice President John Boyett, and Associate Samuel Tobias represented the seller in the transaction.
The property’s seller, an existing client of Matthews™, wanted to cash-out, capitalizing on the well-maintained vacant warehouse in a strategic location near multiple major freeways and Burbank Airport. The property was acquired by California Water Supply to open its third location and will utilize the property as an owner-user. The buyer was represented by Hunter Warner of Lee & Associates.
“With proper pricing and an expansive marketing campaign, including a pre-market email through our joint database, direct outreach, and third-party sites, we sourced about a dozen qualified buyers which resulted in seven competitive offers,” said Tobias. “This allowed us to create a bidding environment resulting in the deal closing above list price with the seller’s preferred terms for DD and closing.”
The industrial property spans 18,000 square feet on .78-acre lot neighboring numerous construction retailers, including Beacon Building Products, Prime Building Materials, and Francini Inc. Marble and Granite.
“Working with an existing client allowed us to facilitate a seamless transactional process, capitalizing on our extensive market knowledge and conveying the value of working with LA industrial specialists,” said Harrold.
“This job is all centered around bringing value and executing what the client is looking to accomplish,” said Boyett. “We did that and did a great job at it. The client gave me 100 percent leeway and fully trusted me to assemble a team of my choice and execute. I’m very thankful for that and happy for the clients’ results.”
For more information, or to contact agents, please visit www.matthews.com.
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 500 agents and support staff in 15+ 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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