Generational Asset Changes Hands Amid Shifting Market Conditions

 

Napa, CA—Matthews ™, a commercial real estate investment services and technology firm, announced the successful closing of Southgate Mini Storage, located at 1025 Golden Gate Drive, Napa, CA. Matthews™ Vice President Shane Avera facilitated the transaction.

 

Marking its first-ever trade, the 67,980-square-foot property had remained under the same family’s ownership for over 50 years.

 

The seller sought to retire and reinvest in NNN properties to generate passive income. Matthews™ identified the opportunity through an existing relationship and database outreach. The process generated nine offers, ultimately closing with the first buyer selected. Through internal collaboration, Matthews™ connected the seller with a NNN specialist to facilitate the 1031 exchange.

 

The buyer was motivated by the potential to add value and intends to improve operations to maximize performance.

 

“The deal unfolded against a backdrop of ever-changing market conditions and increased supply in Napa,” Avera said. “Navigating that environment required a sharp strategy and constant communication.”

 

For more information or to contact a Matthews™ specialized agent, please 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.