Matthews™ facilitated the sale of a 68,000 SF industrial property located at 3200 Tyrone Blvd in Saint Petersburg, Florida, structured as a short-term NNN sale-leaseback. The transaction connected the seller, who was preparing for retirement, with the buyer, who had been actively seeking entry into the market. The deal delivered a strong, creditworthy tenant and an attractive cap rate for the buyer, while achieving the seller’s pricing expectations and timeline.

 

Challenge

The primary challenge was timing and origination. The seller was not initially in the market to transact, requiring a long-term approach to relationship development before an opportunity materialized. Identifying the right moment to act, while also ensuring a qualified buyer was ready to move quickly, required persistence, market awareness, and consistent communication on the agent’s part. Aligning both sides at the right time was critical to successfully executing the transaction.

 

Strategy

Matthews™ First Vice President & Associate Director, Nick Watson, leveraged a relationship-first approach rooted in targeted prospecting, calling through all property owners in the same industrial park while working on a previous listing in the area. This outreach led to an initial conversation with the seller, who shared long-term plans to retire and eventually sell. By maintaining consistent communication over the following years, Watson remained top of mind until the seller was ready to move forward.

 

Once engaged, Watson quickly activated Matthews’™ extensive internal network to identify a qualified buyer whose acquisition criteria aligned with the opportunity and target market. Through proactive, ongoing communication, the agent kept both buyer and seller aligned, effectively managing expectations and maintaining momentum throughout the transaction, ultimately ensuring a smooth and efficient path to closing.

 

Result

The result was a fully relationship-driven transaction that achieved optimal outcomes for both sides. The seller successfully sold the property at the right price, enabling retirement on their own terms. The buyer acquired a high-quality NNN industrial asset with a strong tenant at an attractive cap rate in a target market. Despite the challenges throughout this process, the transaction remained remarkably smooth.

 

This outcome demonstrates Matthews’™ ability to combine persistence, market insight, and strategic connection to deliver results when timing matters most.