Matthews™ Completes Off-Market $7.73M Walgreens Sale

Portland, OR – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of a Walgreens, located at 17979 Northeast Glisan Street, Portland, OR. Matthews™ served both the buyer and seller in the transaction, with Associate Grant Korn and Market Leader Maxx Bauman representing the seller and Senior Associate Keegan Mulcahy and Associate Vice President and Director Chuck Evans representing the buyer.

 

The property was sold for $7,727,272 in an off-market deal after the seller was interested in disposing of the asset to take advantage of the increased values within the drugstore market. Matthews™ secured a buyer quickly, closed the transaction on time, and received the full asking price.

 

“By working with brokers from our firm, we were able to move quickly and source a buyer before going to market,” Korn said. “This established a timely close with no extensions or delays, surpassing our client’s expectations.”

 

The buyer, a net lease retail investor, was working with Matthews™ to complete a 1031 Exchange. The client had sold out of a Chili’s asset and was searching for an up-leg property to exchange into. In addition to a seamless closing process, the buyer did not have to compete with other offers.

 

“Since this deal was completed off-market our buyer had the luxury of not having to compete with other investors,” Mulcahy said. “This helped my client get a well-performing investment at a great price and helped the seller as the transaction fit their criteria and timeline.”

 

For more information on this listing or to contact, Grant Korn, Maxx Bauman, Keegan Mulcahy, and Chuck Evans, please visit www.matthews.com.

Sold in conjunction with Tim Campbell of Campbell Commercial Real Estate Lic No. 200203119

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.