{"id":1004201522,"date":"2017-12-21T06:06:00","date_gmt":"2017-12-21T14:06:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004201522"},"modified":"2022-12-08T22:02:12","modified_gmt":"2022-12-09T06:02:12","slug":"matthews-brokers-sale-of-oc-la-z-boy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/","title":{"rendered":"Matthews Brokers Sale of OC La-Z-Boy"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004201523\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004201523\" data-attachment-id=\"1004201523\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/23029-eastpark-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1513847136&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"23029 Eastpark Drive\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;23029 Eastpark Drive&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg?w=800\" class=\"wp-image-1004201523 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg\" alt=\"23029 Eastpark Drive\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004201523\" class=\"wp-caption-text\">23029 Eastpark Drive<\/p><\/div>\n<p>Matthews Real Estate Investment Services has brokered the sale of a La-Z-Boy Furniture retail property in Yorba Linda, Calif. The transaction was valued at just under $5.5 million, the full asking price for the building. The seller, Timothy Casey of Santa Barbara, had acquired the property in 2006. The buyer, a group of four individuals based out of San Jose, did a 1031 tax-deferred exchange, seeking to transition from a multifamily to a single-tenant retail property. The new owner financed the acquisition with a $2.5 million mortgage held by StanCorp Financial Group, according to public records. A Matthews team led by El Warner and Jordan Gomez represented the seller in the transaction.<\/p>\n<p>Located at 23029 Eastpark Drive, the 18,630-square-foot building was constructed in 2001 and leased by La-Z-Boy\u00a0in June 2006. The 15-year, triple-net-lease agreement with 7.5 percent annual increases expires in mid-2021, though the tenant has three five-year extension options. The property is exposed to more than 200,000 vehicles per day from the adjacent Riverside Freeway. The building sits next to a number of other large retailers, including Best Buy, Bed Bath &amp; Beyond, Dick\u2019s Sporting Goods and Kohl\u2019s.<\/p>\n<p><em>\u201cDespite the uncertainty with big-box retailers, this transaction signifies the continued demand from buyers that this asset class still has viability,\u201d<\/em> said Warner, executive vice president &amp; national director of shopping centers for Matthews, in prepared remarks.<\/p>\n<p>Earlier this year, another <a href=\"https:\/\/www.commercialsearch.com\/news\/ngkf-brokers-59m-anaheim-office-building-sale\/\">1031 exchange transaction<\/a> closed in Orange County, valued at $59 million.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The nearly 20,000-square-foot, single-tenant retail asset was sold at the full asking price to a buyer involved in a 1031 exchange.<\/p>\n","protected":false},"author":861,"featured_media":1004201523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,34267,21749,15],"tags":[38676,35041,35596,33239],"class_list":["post-1004201522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-orange-county","category-retail","category-west","tag-bed-bath-beyond","tag-best-buy","tag-matthews-real-estate-investment-services","tag-triple-net-lease"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Matthews Brokers Sale of OC La-Z-Boy - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Matthews Brokers Sale of OC La-Z-Boy\" \/>\n<meta property=\"og:description\" content=\"The nearly 20,000-square-foot, single-tenant retail asset was sold at the full asking price to a buyer involved in a 1031 exchange.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-21T14:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T06:02:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Matthews Brokers Sale of OC La-Z-Boy\",\"datePublished\":\"2017-12-21T14:06:00+00:00\",\"dateModified\":\"2022-12-09T06:02:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/\"},\"wordCount\":256,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/23029-Eastpark-Drive.jpg\",\"keywords\":[\"Bed Bath &amp; Beyond\",\"Best Buy\",\"Matthews Real Estate Investment Services\",\"Triple Net Lease\"],\"articleSection\":[\"Deals\",\"News\",\"Orange County\",\"Retail\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/\",\"name\":\"Matthews Brokers Sale of OC La-Z-Boy - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/23029-Eastpark-Drive.jpg\",\"datePublished\":\"2017-12-21T14:06:00+00:00\",\"dateModified\":\"2022-12-09T06:02:12+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/23029-Eastpark-Drive.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/23029-Eastpark-Drive.jpg\",\"width\":800,\"height\":620,\"caption\":\"23029 Eastpark Drive\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/matthews-brokers-sale-of-oc-la-z-boy\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Matthews Brokers Sale of OC La-Z-Boy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/jeffh\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Matthews Brokers Sale of OC La-Z-Boy - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/","og_locale":"en_US","og_type":"article","og_title":"Matthews Brokers Sale of OC La-Z-Boy","og_description":"The nearly 20,000-square-foot, single-tenant retail asset was sold at the full asking price to a buyer involved in a 1031 exchange.","og_url":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-12-21T14:06:00+00:00","article_modified_time":"2022-12-09T06:02:12+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/"},"author":{"name":"Jeff Hamann","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"headline":"Matthews Brokers Sale of OC La-Z-Boy","datePublished":"2017-12-21T14:06:00+00:00","dateModified":"2022-12-09T06:02:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/"},"wordCount":256,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg","keywords":["Bed Bath &amp; Beyond","Best Buy","Matthews Real Estate Investment Services","Triple Net Lease"],"articleSection":["Deals","News","Orange County","Retail","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/","url":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/","name":"Matthews Brokers Sale of OC La-Z-Boy - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg","datePublished":"2017-12-21T14:06:00+00:00","dateModified":"2022-12-09T06:02:12+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg","width":800,"height":620,"caption":"23029 Eastpark Drive"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/matthews-brokers-sale-of-oc-la-z-boy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Matthews Brokers Sale of OC La-Z-Boy"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4","name":"Jeff Hamann","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","caption":"Jeff Hamann"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/23029-Eastpark-Drive.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004201522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/861"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004201522"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004201522\/revisions"}],"predecessor-version":[{"id":1004201605,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004201522\/revisions\/1004201605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004201523"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004201522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004201522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004201522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}