HUNTSVILLE, Ala.--(BUSINESS WIRE)--Matthews Real Estate Investment Services™, the nation’s fastest growing commercial real estate firm, has announced the $13.8 million sale of The Gallery Shopping Center. The 101,498 square-foot asset, sold by Plaza Properties, is located two blocks east of the $350 million Mid-City Mall redevelopment project on University Drive in Huntsville, Alabama. The buyer was a private family office from Florida seeking a 1031 exchange. The transaction was led by Jordan Powell and Scott Henard, SVP & Regional Director of the Matthews™ Shopping Center Division.
“It was a pleasure working with Matthews™. They were very accommodating and stayed on issues until they were resolved,” said Joe Siegart, Plaza Property’s Managing Partner. Matthews™ was able to source the 1031 buyer through their proprietary database and 1031 platform. “This asset was well located and currently 95% leased to tenants with long historical occupancies that should provide dependable cash flow for years to come for the buyer,” said Jordan Powell.
The Matthews™ Shopping Center Division prides themselves on their unwavering commitment to serving their clients’ best interest. With their competitive marketing technology and expansive global database, the division has earned a reputation for excellence in execution. For more information regarding this sale, or to discuss available shopping center inventory, please reach out to Scott Henard or Jordan Powell.
About Matthews Real Estate Investment Services:
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in shopping center, STNL, Multifamily, Management, Leasing, portfolio disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit WWW.MATTHEWS.COM.