The Sale of Site One on 11600 S Virginia St

Challenge

The sale of 11600 S Virginia St presented several challenges that required a strategic approach to ensure a successful transaction. The property had a new 5-year lease renewal, which made it attractive to investors seeking stable income. However, securing the right buyer at a competitive price required precise marketing and deal execution. Additionally, the seller aimed for a smooth and efficient closing process without disruptions to the tenant’s operations.

The seller’s primary objectives were to maximize the sale price while leveraging the stability of the new lease, facilitate a seamless transaction with minimal delays, and identify a buyer capable of closing efficiently. On the buyer’s side, the key concerns were ensuring the property’s long-term viability as an investment and achieving a competitive cap rate in a desirable market.

Strategy

To achieve these objectives, Matthews™ implemented a targeted and proactive approach. First, extensive market research was conducted to highlight Reno’s strong demand for commercial real estate, reinforcing the property’s investment potential. Leveraging the Matthews™ platform and extensive investor database, strong interest was generated from qualified buyers, ensuring a competitive bidding environment.

No time was wasted in contacting all of the highest probability buyers within the first week via phone call and one pre-market email blast. This resulted in four competitive offers pre-market from a variety of buyer profiles, creating a competitive bidding environment. Ultimately, an all cash buyer was identified with a strong track record. This ensured a fast and reliable closing within a 45-day escrow period. By maintaining seamless coordination among all parties—including the seller, buyer, tenant, and title company—the transaction was executed efficiently, meeting the seller’s expectations.

Results

The property sold for $1,820,000 at a 6.85% cap rate, exceeding the seller’s pricing target and closing at 101% of list price. The transaction closed smoothly within the agreed 45day escrow period, allowing the seller to transition seamlessly to their next investment opportunity. The success of this transaction was driven by Matthews™ extensive marketing reach, expert negotiation strategies, and commitment to delivering outstanding client results.

Client Testimonial

“Working with Taylor Dintzner from Matthews Real Estate Investment Services™ was an exceptional experience in selling our industrial/commercial property. From the moment we listed, Taylor demonstrated remarkable expertise and dedication, generating four competitive offers within the first week. His consistent communication, attention to detail, and skilled coordination between all parties—including our current tenant, potential buyers, and the title company—made the entire process seamless. What truly stood out was Taylor’s unwavering commitment to our best interests and his ability to navigate the transaction to a successful closing, precisely on schedule. His professionalism and follow-through exceeded our expectations, making what could have been a complex commercial sale straightforward and efficient.”

-Seller