Matthews™ Completes $6.6 Million Sale of Bob’s Discount Furniture in Arizona

GLENDALE, AZ— Matthews™, a commercial real estate investment services and technology firm, facilitated the sale of Bob’s Discount Furniture, located at 7430 W Bell Road in Glendale, Arizona. Matthews™ First Vice President & Director Alex DeSoto and Associate Vice President Hudson DeJean represented the seller in the $6,631,850 transaction.

 

The single-tenant big-box property is leased to Bob’s Discount Furniture, an expanding nation retailer that has reached 213 locations by the end of 2025, exceeding their goal of 200. The asset is backed by a corporately guaranteed lease with approximately five years of term remaining and three five-year renewal options.

 

The asset was marketed on behalf of a private local Arizona owner seeking to simplify their holdings and reinvest proceeds elsewhere. Matthews™ sourced the opportunity through direct outreach, executed a targeted marketing process, and secured a buyer focused on retail and credit-tenant opportunities. The California-based development company was attracted to the property’s in-place cash flow and long-term flexibility, with plans to hold the asset through the remaining lease term and, if the tenant does not renew, evaluate a potential repurpose of the big-box site.

 

During the due diligence period, an inspection-related roof issue was identified. Matthews™ coordinated multiple contractor bids and worked with both parties to structure a mutually acceptable resolution, allowing the transaction to proceed on schedule while preserving the seller’s net proceeds. The transaction closed in 90 days, with the buyer securing financing during escrow and completing the acquisition as the up-leg of a multi-property 1031 exchange.

 

“From the outset, we knew the assignment would be challenging given the lowered transaction volume for big-box furniture sites, although the tenant’s growth and prime location were key factors we highlighted to successfully close the transaction,” DeJean said.

 

For more information, please contact Alex DeSoto and Hudson DeJean or visit www.matthews.com.

 

About Matthews™

Matthews™, 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 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.