The Successful Sale of 221-373 McDonough Pkwy

Challenge

McDonough Parkway LLC, a repeat client of Matthews™, sought to achieve the best possible price for their industrial property while ensuring a smooth 1031 exchange for one of the owners. This exchange added an element of complexity, requiring a timely and efficient transaction to meet strict deadlines.

The property had previously been listed off-market, generating a handful of qualified offers. However, after meeting with Matthews™, the seller was presented with the benefits of an on-market listing, which demonstrated the potential for stronger competition and better offers. Recognizing this, the seller opted to move forward with an on-market listing to maximize value.

The transaction encountered challenges, including title defects and delays in securing tenant paperwork necessary for the loan documents. These obstacles required strategic problem-solving to ensure a seamless closing process.

Strategy

To effectively market the property and navigate the complexities of the transaction, the seller enlisted the expertise of Harrison Auerbach and Nick Watson. The agents implemented a targeted marketing approach that leveraged the Matthews™ shared database, exposing the property to a broad network of active buyers. Additionally, their relationships with key industry players generated interest before the property was officially listed, resulting in multiple early offers.

Throughout the process, the agents maintained clear and consistent communication with the seller, ensuring they were informed at every stage. The competitive environment fostered by strategic marketing efforts led to the selection of a buyer whose offer was hundreds of thousands of dollars higher than competing bids, securing maximum value for the seller. Despite the title defects and challenges with tenant paperwork, the agents worked proactively with all parties to resolve issues and facilitate a smooth closing.

Results

Within the first two weeks of listing, the property received five offers from reputable buyers, and a buyer was selected and placed under contract within one month. The sale price exceeded previous off-market offers, demonstrating the value of strategic marketing and open-market exposure. The transaction successfully closed at 97% of the original asking price, finalizing at $5.825 million. The transaction not only secured a strong financial outcome for the seller but also reinforced the benefits of working with experienced agents who understand how to maximize property value in a competitive market.

Client Testimonial

I recently sold my property in McDonough, GA and am very pleased with the work Harrison Auerbach and Nick Watson did to help facilitate the transaction. Once the property was on the market, we received a lot of interest from the email blasts and web advertisements and had f ive offers from reputable groups within the f irst two weeks. With their guidance, I selected a buyer and was under contract after only one month on the market.

While under contract, Harrison and Nick kept me informed on the status every step of the way. There were small issues that came up during the escrow period, but they handled everything efficiently, and we closed at 97% of the original asking price. In addition, Harrison and Nick helped to facilitate my 1031 exchange, which was incredibly helpful as we had to follow a very strict timeline. I am very happy with the work Harrison and Nick did on this transaction and highly recommend hiring them both to handle the sale of your industrial property.