ST. AUGUSTINE, Fla. — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the quick close off-market sale of Datil Car Wash located at 145 Movie St., St. Augustine, Florida, according to a press release.
Associate Vice President Beryl Grant and Vice President Clay Smith represented the seller.
The seller, a private investor, was looking to capitalize on the submarket’s high interest rate environment and reallocate capital into other investments in Northeast Florida.
The buyer, 145MS, LLC, was looking to expand its presence in express carwashes in the Southeast.
“We were able to capitalize on the benefits of this being an off-market transaction,” said Grant. “This helped the seller achieve a shortened timeline and the buyer acquire an asset to grow their portfolio with an investment they may not have found on their own.”
Datil Car Wash is an express carwash facility that offers developed technologies and top-of-the-line equipment, continued the press release.
It is in a high traffic neighborhood nearby several retailers, including McDonald’s, Dunkin’ Donuts, Epic Village Shopping Center and Planet Fitness. “Through industry relationships and knowledge, we were able to arrange a sale that was seamless and closed in just 60 days,” said Smith.
