Matthews Real Estate Investment Services recently facilitated the sale of a vacant industrial property in Gardena for $10,695,000. This transaction not only set a record for the highest price point in Gardena but also represented the largest building sold so far this year.
The team at Matthews, consisting of Associate Austin Borges and SVP and Senior Director Alexander Harrold, successfully handled this deal. The seller was California-based Marmon Properties who decided to sell the property as part of their 1031 exchange into an NNN investment in Tampa.
According to Borges, “The opportunity presented itself when our client needed to exit the California market due to vacancy. We strategically selected an all-cash buyer and proactively managed every aspect of the transaction which resulted in achieving a great price point within our client’s desired timeframe.”
Classic Components was identified as the buyer who is known for providing supply chain solutions. They plan on using Normandie Avenue as their new corporate headquarters.
This successful sale has been making headlines across CRE news outlets such as Connect CRE due its impressive pricing record set by Matthews Real Estate Investment Services without mentioning any specific company names or locations mentioned above.
