Fresno, CA— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $6,875,000 sale of Village Walk Shopping Center. The property is located at 6350-6380 North Figarden Avenue, Fresno, CA. Associate Vice President Nabil Awada represented the buyer in the transaction. Matthews™ Capital Markets Associate Jim Brandon and Senior Associate Greg Kavoklis aided in financing the acquisition.
The buyer, a repeat client of Matthews™, purchased this 30,000-plus square-foot property in a 1031 Exchange to grow their portfolio in Fresno’s retail sector, as this acquisition is their second shopping center in the market this year. The Village Walk acquisition is anchored by a Crunch Fitness Center and three additional retail spaces. One retail space is vacant and offers 1,855 square feet available for lease.
“Village Walk sits at the high-traffic intersection of North Figarden Avenue and North Jeanne Avenue, offering visibility and increased foot traffic,” said Awada. “The center currently has one vacant space, which the new owner plans to lease to a local or regional retail tenant that will provide additional synergy to the well-established Crunch Fitness space and Central Valley Stars dance studio.”
Fresno is a large city in California housing over 540,000 residents with high desirability as living expenses are 60 percent lower than the rest of the state.
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