MI Distribution Center Sets Cap Rate Record in All-Cash Transaction

Traverse City, MI— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the all-cash $5.6M sale of a PepsiCo Distribution Center located at 4248 Cherry Pepsi Way, Traverse City, MI. Senior Associate Brett Davis and Senior Vice President and Senior Director Alexander Harrold represented the seller in the transaction.

The seller, a private investor with a diverse portfolio, achieved a national cap rate record for a PepsiCo distribution facility. The California-based buyer acquired a build-to-suit PepsiCo facility with a long-term lease and annual rent increases through a 1031 Exchange.

“We leveraged our combined databases and the extensive Matthews™ marketing strategy to create a competitive buying pool, leading to a smooth transaction with a record-breaking sale,” said Harrold.

“This deal showcases the importance of knowing each party’s objectives in order to facilitate a transaction that accomplishes both sides’ needs,” said Davis. “We executed a smooth transactional process that set up both the buyer and seller for great profitability and long-term financial success.”

For more information, or to contact Brett Davis and Alexander Harrold, please visit  www.matthews.com.

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 15 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

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