The 154,404 square foot Walmart Supercenter located in Youngstown, Ohio, is situated in the center of Southland Crossings, one of the most dominant anchor lineups in Northeast Ohio.
Matthews™ represented the seller, a repeat client who was price-motivated and looking to take advantage of the current cap rate environment. The property had five years remaining on the lease term.
Within the first month of marketing the property, Matthews™ was able to generate a dozen offers from the proprietary marketing system and database of active investors. Based on these results, Matthews™ was able to source the buyer for the transaction.
In under 60 days, Matthews™ closed with the first buyer that went under contract. The property sold for $13.57 million, and Matthews™ hit an aggressive cap rate considering the length of the primary lease term remaining for the seller. The buyer added an excellent performing asset with strong sales and credit to their portfolio.