Matthews™ Represents Buyer in $11.1M Sale of CA Shopping Center

Fresno, CA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of Shaw West Center, a shopping center located at 2047-2097 W Shaw Ave, Fresno, CA. The transaction closed at $11,068,000 and was handled by Senior Associate Nabil Awada.

 

The buyer, a Matthews™ private client, was looking to execute a 1031 Exchange out of a multifamily property in Los Angeles with the goal of acquiring a shopping center with more stable retail tenants and passive NNN income. Using his specialized expertise and experience, Nabil sourced multiple opportunities for the client which ultimately led to the Shaw West Center which included national and regional tenants.

 

“My client was able to successfully exchange out of a turn-key apartment building with an NOI of $165,000 and move his equity into a stabilized retail center with an NOI of $760,000,” Nabil said. “This 360 percent increase in net operating income is a prime example of the valuable arbitrage opportunities that a 1031 Exchange can yield for savvy investors who are willing to consider moving their equity into other markets and across different property types.”

 

Although parties faced rising interest rates during escrow, Nabil overcame challenges and executed an efficient closing process, accomplishing both the seller’s and buyer’s investment goals.

 

For more information or to contact Nabil Awada, 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.