Matthews™ Closes Car Wash Portfolio Sale in South Carolina
Greenville, SC —Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, represented the seller in the disposition of a four-property portfolio, including Heroes Car Wash business and real estate in Greenville and Taylors, SC. Matthews™ Associate Jagr Larson, Associate Tyler Spain, Senior Associate Ethan Miller, and Vice President and Director Simon Assaf handled the transaction.
Matthews™ represent the seller, a North Carolina-based investor looking to exit the market and reinvest in their local area. The portfolio included both the Heroes Car Wash operational business and the real estate of four current locations.
“We met our client’s goals price-wise, 99% within the final list price, and time-wise,” Spain said. “Both parties were great to work with and understood the deal’s value, helping us achieve a 48-day escrow.”
The buyer, PassiveInvesting.com, is in a major acquisition phase of express car washes throughout the Southeast and acquired the portfolio with plans to continue its expansion. After this acquisition, the group now owns and operates 15 sites across South and North Carolina.
“We are committed to providing exceptional service to our customers and building lasting relationships in the community. Our friendly wash team is ready to serve the upstate with integrity. Not only do we strive to be the leading express car wash brand but, more importantly, create stable jobs for our community with excellent wages and benefits,” says Cameron Broom, Car Wash Managing Partner of PassiveInvesting.com.
“Through specialization within the car wash space, we were able to source the most credible buyer and leverage them into the deal,” Larson said. “The buyer plans to pick up where the previous ownership left off and continue to grow the facilities through offering a strong membership program for the business’ customers.”
The deal includes 1405 Woodruff Rd. and 3107 North Pleasantburg Dr. in Greenville and 6050 Wade Hampton Blvd., and 2900 Wade Hampton Blvd. in Taylors.
For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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