Matthews™ Represents Seller in Driven Brands Acquisition

Huntsville, AL – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of Watercress Car Wash, located at 7020 Hwy 72 W, Huntsville, AL. The express car wash is approximately 4,550 square feet and is positioned in a high-traffic area that sees on average 45,000 vehicles per day. The transaction was handled by Senior Associate Beryl Grant and Associate Vice President Clay Smith.

 

Matthews™ represented the sellers who were seeking to take advantage of the aggressive price points in the car wash market. The property recorded high-performance numbers and is well-established in the area, making it a prime opportunity for investors. The seller received 98.3 percent of the list price and an efficient transaction process, closing in only four months.

 

“Our unique specialization in the car wash sector allowed us to price accurately and source a qualified buyer,” Grant said. “Ultimately, we were able to maximize the exit price for our client.”

 

The buyer, Driven Brands, is the second-largest car wash operator in the U.S., with over 200 locations nationwide. Matthews™ agents sourced the buyer through a previous relationship.

 

“We had experience with both our client and the buyer for this deal which helped minimize any challenges throughout the deal and close quickly,” Smith said. “The buyer received an in-demand asset and our client was very satisfied with the sale price.”

 

For more information on this listing or to contact Beryl Grant and Clay Smith, please visit www.matthews.com. This transaction was sold in conjunction with Broker of Record, Kyle Matthews, Lic. Number 110253 (AL).

 

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.