Case Study: Wells Fargo
Property Profile
Challenge
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.
Strategy
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.
Results
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.
Recent News
Recent Media & Thought Leadership
![](https://www.matthews.com/wp-content/uploads/2024/05/blog-300x120.jpg)
5/24/2024
Case Study: 6305 Boulevard East
![](https://www.matthews.com/wp-content/uploads/2024/03/Meadows-at-Town-Center_Blog-1-1-300x120.jpg)
3/7/2024
Case Study: Three Property Multifamily Portfolio Refinance
![](https://www.matthews.com/wp-content/uploads/2024/02/Blog-Image-Dutch-Bros-300x120.jpg)
2/26/2024
Case Study: 10365 Parker Rd
![](https://www.matthews.com/wp-content/uploads/2024/02/Case-Study_1269-Broadway_Blog-300x120.jpg)
2/6/2024
Case Study: 1269 Broadway
![](https://www.matthews.com/wp-content/uploads/2024/01/Blog-970-Flushing-Avenue-Case-Study-300x135.jpg)
1/29/2024
Case Study: 970 Flushing Avenue
![](https://www.matthews.com/wp-content/uploads/2024/01/1056-rogers-300x120.jpg)
1/26/2024
Case Study: 1056 Rogers Avenue
![](https://www.matthews.com/wp-content/uploads/2024/01/Blog_Safe-Store-300x120.jpg)
1/25/2024
Case Study: Safe Store Surry, NH
![](https://www.matthews.com/wp-content/uploads/2024/01/Site1-300x169.jpeg)
1/23/2024
Case Study: 237A 27th Street
![](https://www.matthews.com/wp-content/uploads/2023/12/Blog-Industrial-Case-Study-300x135.png)
12/12/2023