Matthews™ Completes 1031 Exchange, Brokering $5.15M Recession-Proof Investment

Green Bay, WI – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, represented a client in a successful 1031 Exchange in which the buyer acquired 1151 East Midway Road, Menasha, WI. The $5.15M transaction was brokered by Associate Edward DeSimone, First Vice President Josh Bishop, and Market Leader Maxx Bauman.

 

The Midwest property is home to the U.S. supermarket chain Piggly Wiggly, and popular discount retailer, Dollar Tree, proved to be resilient during and post COVID-19. Due to their essential-business nature, Piggly Wiggly and Dollar Tree are considered valuable and stable investments. The buyer was motivated to acquire the facility to relocate their investment portfolio into a better market and achieve a longer-term lease. They successfully exchanged out of a four-property Dollar General portfolio to receive a 20 percent cash flow increase, 121 percent weighted average lease term increase and maintained a corporate guaranteed lease with the Menasha acquisition.

 

“This sale was an absolute homerun for our client,” DeSimone said. “We substantially increased our client’s position in almost every metric possible and are beyond excited at the outcome for our buyer.”

 

During the 1031 Exchange process, Matthews’ brokers leveraged the firm’s comprehensive database and marketing tools to receive broad exposure for the client’s Dollar General portfolio. This made it possible to close with the first buyer sourced. From there, Matthews™ investigated various exchange property options and found an investment that fits all the investor’s criteria.

 

“Not only did our client move into a stronger market, but they also received a 7.77 percent cap rate for a 10+ year absolute NNN corporate deal with this exchange, aligning perfectly with their objectives,” Bishop said.

 

For more information on this listing or to contact Edward DeSimone, Josh Bishop, 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.