Located in a High-Traffic Area Adjacent to a Food City-Anchored Shopping Center
Dayton, TN— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, recently completed the quick-close off-market transaction of Waterworks Car Wash, a car wash facility located at 300 Market Street, Dayton, TN. The deal was in escrow for 14 days in a seamless acquisition. Senior Associate Beryl Grant and Vice President Clay Smith represented the seller in the transaction.
The property was acquired by Magnolia Wash Holdings, one of the largest car wash operators in the United States, and sold by a private investor looking to capitalize on the aggressive pricing in the automotive sector. Magnolia Wash Holdings was looking to expand its presence in the Southeast, particularly in Tennessee.
“This deal represents the power of strategic pricing. We were able to assist the seller in capitalizing on the booming car wash industry while providing a well-suited addition to the buyer’s portfolio,” said Grant.
Waterworks Car Wash is in a high-traffic area off the Rhea County Highway, adjacent to a Food City-anchored shopping center, a used car dealership, and NAPA Auto Parts. The property’s prominent location offers easy accessibility and high visibility.
“The car wash sector is proving to be the rising star of CRE with major attraction from private equity groups who are flooding the market,” said Smith. “These properties offer very attractive returns with less management intensive than other business operations.”
Matthews Real Estate Investments 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 400 agents and support staff in 14 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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