Pierce Hardy LP sold the 35,570-square-foot industrial building at 11025 E. Independence Blvd. in Matthews, NC, to Matthews East Independence LLC. The former 84 lumber building traded for nearly $1.78 million, or approximately $50 per square foot.
According to parties involved in the sale, the building will be torn down in order for redevelopment to take place. About 1.99 acres of the property is currently under contract with Golden Corral and is expected to close in November. The remaining 1.3 acres will be marketed for sale.
Bethany Weight of 84 Lumber Co. represented Pierce Hardy. Sharon Turner of Sonoma Commercial Properties represented Matthews East Independence.
Please refer to CoStar COMPS #1588755 for more information.