Opelousas, LA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Mr. Bee’s Car Wash, located at 159 Wallior Street, Opelousas, LA. The retail property sold for $5.75M, closing $100,000 above the final list price. The transaction was brokered by Associate Beryl Grant and Senior Associate Clay Smith.

 

Matthews™ represented the seller, a local owner of Mr. Bee’s Car Wash, who was seeking to take advantage of the high demand in the car wash market. The sale included both the car wash business and the underlying real estate. Matthews™ brokers’ specialized market knowledge allowed them to accurately price the asset and procure a motivated buyer.

 

“Express car wash businesses are the hot ticket items in the car wash market right now, resulting in significant price points,” Grant said. “This allowed us to leverage the client’s successful business and close with the first buyer that came under contract.”

 

The buyer, International Car Wash Group, is the largest car wash operator in the world. The car wash giant is aggressively buying established facilities in the Louisiana region and was interested in the property due to its strong performance history and customer loyalty. The buyer received a successful business at a high rate of return.

 

“There were many challenges faced during this transaction, including city zoning issues and a non-compete between the sellers’ and buyers’ current sites,” Smith said. “But we negotiated and strategized with all parties involved to overcome all hurdles and close the deal for our client.”

 

For more information on this listing or to contact Beryl Grant and Clay Smith, please visit www.matthews.com.

 

About Matthews™

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. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.