Matthews™ Closes Walgreens Portfolio for $5.11M

Columbus, GA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of a two-property Walgreens portfolio, located at 4808 Buena Vista Road and 22510 Wynnton Road, in Columbus, GA. The transaction was brokered by Associate Grant Korn and Market Leader Maxx Bauman.

 

The seller, a Matthews™ private client, was looking to receive high-profit gains from the sale of the portfolio. The investor sold six months after initially purchasing the properties and received a profitable price point without any value-add.

 

“Given Walgreens’ flat lease structure, they often depreciate in value as the lease term shortens,” Korn said. “But by leveraging the market and the increased demand for drugstore assets, we created a competitive bidding environment and received multiple offers significantly over the seller’s original purchase price only six months earlier.”

 

The buyer, a local investor, was interested in the properties to add to their already extensive commercial real estate portfolio. The buyer received in-demand properties in well-performing areas, along with an on-time close.

 

“Using our connections and shared database, we were able to source a buyer that was qualified and willing to close at a great price and without any credits,” Bauman said. “We created a winning story, presented a great offer, and closed on time, a win-win for all parties involved.”

 

For more information on this listing or to contact Grant Korn and Maxx Bauman, 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.