Matador identified this opportunity due to its proximity to an adjacent property at 101 N Sara Rd. Although the office space comprised 40% of the total building square footage—exceeding our usual specifications—the extensive land area and comprehensive amenities offset any leasing concerns. After acquiring the property in late summer 2022, Matador collaborated with a local brokerage to market and lease the space. Aware of the need for a specific tenant type and the potential extended leasing period, these factors were incorporated into our initial underwriting. By the end of 2022, we had secured a lease with a publicly traded, national credit tenant, who ultimately purchased the property in January 2024. This transaction underscores Matador's strategic patience and commitment to securing favorable terms, reflecting our dedication to the long-term success of our investment strategy.

• Size: 34,574 SF

• Land: 17.5 AC

• Tenant Type: Single