Atlanta, GA – Matthews Real Estate Investment Services™, the nation’s fastest-growing real estate firm, is excited to announce the $9.16M sale of a 13-property Continental Carbonic portfolio, spanning nine states throughout the United States. The sale was brokered by Matthews™ Senior Associate Harrison Auerbach and Vice President Alexander Harrold.
The portfolio sold for 103% of the listing price after generating 12 competitive offers. The seller, a Matthews™ client, was motivated to sell the portfolio to avoid management responsibilities of over a dozen simultaneously expiring leases. With less than three years remaining on the lease terms, Matthews™ agents assured the seller they would receive cash flow in an optimum amount of time and equity remaining.
“We were able to create a compelling market that generated a tremendous amount of value for the portfolio,” said Auerbach. “The original listing price was $8.9M, and by utilizing our industry knowledge and out of state relationships, we were able to create a competitive bidding environment.”
Using Matthews™ comprehensive shared database, the brokers were able to research qualified potential buyers and increase their client’s equity. The buyer, Matheson Tri-Gas, the parent company of Continental Carbonic, wanted to buy the portfolio to secure several of their most vital distribution and production facilities. Continental Carbonic was a tenant in 12 of the 13 properties listed.
“This sale is a testament to why owners should speak to a professional broker before selling directly to the tenant,” said Harrold. “We informed the buyer that introducing external competition would be the only way to receive full value of the portfolio. By going through that process, we generated hundreds of thousands in additional equity for our client.”
For more information regarding this sale or if you have any further questions related to industrial investment sales, please reach out to Harrison Auerbach, or Alexander Harrold. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage 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 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
Recent Media & Thought Leadership