Matthews closes portfolio sale of Heroes Car Wash business and real estate

Matthews closes portfolio sale of Heroes Car Wash business and real estate

GREENVILLE, S.C. — The buyer is in a major acquisition phase of express carwashes throughout the Southeast.

GREENVILLE, S.C. — Matthews Real Estate Investment Services announced in a press release that the company represented the seller in the disposition of a four-property portfolio, including Heroes Car Wash business and real estate in Greenville and Taylors, South Carolina.

Matthews Associate Jagr Larson, Associate Tyler Spain, Senior Associate Ethan Miller and Vice President and Director Simon Assaf handled the transaction. 

Matthews represented 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 carwashes 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 carwash brand but, more importantly, create stable jobs for our community with excellent wages and benefits,” says Cameron Broom, carwash managing partner of PassiveInvesting.com. 

“Through specialization within the carwash 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 N Pleasantburg Dr. in Greenville and 6050 Wade Hampton Blvd., and 2900 Wade Hampton Blvd. in Taylors. 

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