Market Overview

Matthews™ Closes $18 Million Sprouts Farmers Market in Tampa, FL

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Aggressive Pricing Achieved for Trophy Asset in Record Timing

Matthews
Real Estate Investment Services™
is pleased to announce the $18
million sale of Sprouts Farmers Market in the largest city in
Hillsborough County, Tampa, FL. Senior Vice President & Senior Director
of Matthews™, Aron
Cline
, represented the seller and sourced the buyer through
Matthews™ marketing efforts.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180823005090/en/

Matthews Real Estate Investment Services™ is pleased to announce the $18 million sale of Sprouts Far ...

Matthews Real Estate Investment Services™ is pleased to announce the $18 million sale of Sprouts Farmers Market in the largest city in Hillsborough County, Tampa, FL. Senior Vice President & Senior Director of Matthews™, Aron Cline, represented the seller and sourced the buyer through Matthews™ marketing efforts. (Photo: Business Wire)

Located in the heart of South Tampa, the 36,320 square foot property is
situated along the primary signalized thoroughfare of Dale Mabry
Highway, less than five miles from Tampa International Airport, 1.5
miles from the Westshore area and just over three miles from the Tampa
Central Business District.

The brand new high-quality construction is one of South Tampa's newest
retail developments surrounded by the following tenants: Trader Joe's,
Whole Foods, Publix, Fresh Market, Target, TJ Maxx, Sam's Club, Walmart,
Total Wine and Beer, Home Goods, Stein Mart, amongst many others. The
property is located in an incredibly strong retail corridor with high
barriers to entry and strong real estate fundamentals.

After attempts to generate interest via direct off-market solicitation
and efforts from a local brokerage house, the seller enlisted. Aron
Cline was able to generate half a dozen offers within the first 30 days
of marketing the property and ultimately source a California buyer who
closed within 60 days of contract signing. "Both the buyer and seller
were very satisfied with the transaction and process as the seller was
able to hit his pricing and timing requirement and the buyer added
another high-quality asset to their portfolio," said Cline.

After accessing the market and his knowledge of the grocery industry,
Aron knew the buyer for this asset was going to be a California
investor. The buyer, a recurring client of Matthews™, is a developer
based in Southern California who was in the middle of a 1031 exchange
and looking for a generational, quality asset to provide a stable return
for investors. "Having successfully completed multiple transactions with
the buyer in the past, we were thrilled to have the opportunity to work
on another transaction with the buyer," said Cline.

Aron Cline SVP & Senior Director of The Matthews™ Net Lease Division
takes pride in his commitment to serving his client's best interest.
With Matthews competitive marketing technology and expansive global
database, Aron Cline and the Net Lease division have earned a reputation
for excellence in execution. Aron and his team are currently selling Natural
Grocers
in Clive, IA and Walmart
Neighbourhood Market
in Charlotte, NC. For more information, please
view our available
net lease inventory.

MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry
leader in Shopping Centers, STNL, Multifamily, Management, 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.

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