The landlord of a ten-year-old Jiffy Lube property wanted to sell their current asset to exchange into a higher-yielding investment. The property was located in an area that was aggressively expanding before the recession but had since stagnated. The primary concern, and motivation, to sell was that if the development didn’t resume soon, the rents at that location would not be able to be supported unless the anticipated population growth restarted. At the time that the client had listed the property, there were two competing offerings in superior locations of the same market – they were inside of the metropolitan area that the client’s property was in a suburb. Matthews™ was presented with the challenge to market this property and create maximum exposure while meeting long-term NNN corporate lease needs, and maximizing net-yield and security of investment for the client.
By utilizing the superior marketing techniques that Matthews™ offers for target audiences, the team was able to secure a buyer. Within 30 seconds of the buyer clicking on the email, the Matthews™ listing agent was able to reach them by phone to sell the property while the buyer was currently looking at the investment. The buyer was an investor who had been trying to fulfill an exchange on their own whom the Matthews™ listing agent had previously had several conversations. Because the buyer had already owned a Jiffy Lube property, they were targeted with a strategic marketing email when the client’s property came out to market. Matthews™ was able to utilize the rapport that had already been established between the listing agent and the buyer to explain the benefits of purchasing the Jiffy Lube in Peyton while elaborating on the risks of the competing locations.
Matthews™ was able to analyze the client’s specific goals in owning real estate, through the 1031 Private Client Advantage Program, and present them with a strategy that was able to best accomplish those goals. The client didn’t have to do a single property search because their advisor was able to source the deals they were going to purchase and present them to the client in a way such that they were able to make an informed decision about moving forward. The total time between the day that the listing agreement was signed with Matthews™ and the day that they closed on their final exchange property was less than six months.
“My wife and I feel that the Matthews™ team was outstanding in all areas. We know from our experience that you were very detailed in providing the guidance assistance needed to accomplish the transaction. They were thorough in answering concerns or misunderstandings that we had about various items.”