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Category: 1031 Exchange, Net Lease Retail Tags: 1031 Exchange, Bank, Net Lease Retail

Property Profile

Wells Fargo Bakersfield, CA
Leasable Area
6,400 sq. ft.


Located in Bakersfield, California, Wells Fargo sits near the international airport, Meadow Field Airport, which reaches 135,000 people within a three-mile radius and has been occupied as a bank branch for over 50 years. This specific bank boasted over $77 million in deposits, ten percent more than the year prior. The owner was looking to sell the property to exchange into a longer lease that would increase their cashflow after owning the building for nearly 20 years. With ±3.5 years remaining on the lease, the buyer pool significantly reduced as investors typically seek long-term leases.



With the help of Matthews™ industry-leading technology and the proprietary 1031 Private Client Advantage Program, the team was able to source a 1031 Exchange buyer out of California.



By utilizing the 1031 Private Client Advantage Program, the seller exchanged out of a short-term lease and into a brand new construction corporately-guaranteed auto service property. Leveraging Barrington Capital Corporation™, a lending firm that provides debt financing for CRE investments, Matthews™ conducted a seamless lending process that resulted in increased cash flow and a secure lease term extended from three years to 15 years.

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