Matthews Real Estate Investment Services, an investment firm for commercial real estate technology and services firm was the successful buyer for the $5,800,00 purchase of a multi-tenant grocery-anchored retail center on 554 West Bypass in Andalusia.
Matthews Associates Alexander Machado, Senior Associate Daniel Gonzalez, and First Vice President Johnny Blue Craig represented the seller in the sale.
The retail center covers approximately 91,690 square feet. It is supported to Tractor Supply, Marvin’s, and Pic-N-Save which includes the e-commerce market and a resilient tenant mix. The property was 100 % filled at the date of selling.
“Strong anchors have made the project appealing to buyers since it is located in the high traffic area and highly-performing local grocer,” Machado said. “We were able to promote these aspects and create a auction environment.”
This seller was a large national investor with a goal to move capital. Matthews agents helped locate the buyer who was in a 1031 exchange.
“We had a relationship with both the seller and buyer and this resulted in an easy escrow as well as an efficient closing” Craig said.
For more information, or to get in touch with Matthews For more information or to contact Matthews, go to www.matthews.com.
The article Bypass mall is sold to the new owner was first published in The Andalusia Star-News.
