Top Notch Express Car Wash
RECENT CLIENT SUCCESS
Top Notch Express Car Wash finds first location in Columbia, SC:
Site Selection Expert Navigates a Competitive Market to Find the Right Location!
Challenge:
An investment team needed a prime site for their new carwash concept in Columbia, SC. Their site criteria required this be on major retail corridor with strong traffic counts and easy access—and that was far enough from the competition to be successful. They needed a site selection expert to educate them on the overall Columbia market and all its trade areas, to identify the competition and the gaps in the market, and to negotiate and secure the right site.
Action:
The investors hired Matt Wall of Sterling Properties Group, Inc. based on a referral from one of their industry consultants who was familiar with Matt’s track record of success. Matt has advised dozens of similar site selection clients across the Carolinas and Georgia.
Result:
Matt was able to apply all his site selection expertise to meet this challenge. He educated his client on the market and major trade areas. He performed deep review of zoning, demographics, traffic counts and the retail landscape. Matt then targeted several submarkets where competition was missing or thin. The investors were able to prioritize which submarkets offered the most potential for their carwash concept.
Matt presented off-market site options in addition to listed properties and the investors were ready to pounce when Matt found the right location next to a brand-new gas-station/c-store on Two Notch Road in Columbia. This site met every one of his client’s site criteria.
Matt was able to craft a purchase proposal with his investors that beat the competitive offers and advised his clients on due diligence, financing, choosing the best general contractor and other facets of getting this venture open. Construction is now well underway with completion estimated in early Summer 2021.
Testimonial
“We hired Matt due to his demonstrated experience in site selection for similar clients in other challenging markets across the Southeast. He educated us on the market, identified trade areas and voids in the competition that could be exploited, and helped us secure the best site for our first Top Notch Express Carwash in Columbia! The added bonuses of working with Matt included guidance on financing, assistance with evaluating the design layout and the construction team, and assistance chasing all the loose ends that always come up with SBA financing and permitting. This is a fantastic site and we are well positioned for long-term success here. We definitely chose the right site selection expert here and look forward to working with Matt on future ventures!”
– TPM Investments LLC—Owners
Just Closed--Investment and Land Acquisition--Firestone
Just Closed/Investment and Land Acquistion
SPG is pleased to have represented a valued developer/investor client in the acquisition of the free-standing Firestone building and excess land located at 6544 Northlake Mall Drive in Charlotte, NC.
This 1.84 property includes the 7,700 SF Firestone building (built 2018) and an approx .62+/- acre pad that is approved for 4,000+/- SF additional retail development. This parcel is Outparcel G to Northlake Mall, a 583,582 SF two-story mall (opened 2005) developed by Taubman Centers, Inc. which is owned by Starwood Capital Group. The mall is anchored by Belk, Dillard’s, Macy’s, Dick’s Sporting Goods, AMC Theatres, plus 150 stores and restaurants.
Northlake Mall is located eight miles north of center city Charlotte off Interstate 77 at exit 18, W.T. Harris Blvd, and off Interstate 485 at exit 21, also at W.T. Harris Blvd.
Other notable retail attractions include the adjacent Northlake Commons (80,000 SF retail shops plus 5 outparcels including Chick-fil-A), Northcrest Shopping Center (311, 000 SF – anchored by Target, REI and Old Navy), and Perimeter Woods (290,000 SF retail anchored by Lowes Home Improvement plus 125,000 SF office).
Site Acquired / Coming Soon--Express Oil Change & Service--Rock Hill, SC
Site Acquired/Coming Soon
SPG is pleased to have represented Express Oil Change & Service / Tire Engineers in their recent acquisition of the 1.15 Acre site located at 4824 Old York Road in the rapidly growing Newport submarket in northwest Rock Hill, SC.
This was an off-market site across from the Rock Hill Crossing Shopping Center anchored by Wal-Mart.
Express Oil will be located on the north side of Old York Road adjacent to a redeveloped northwest corner parcel at the signalized intersection with Pennington Road.
This development will include a new Burger King. Other free-standing attractions include Founders Federal Credit Union, Sam’s Express Car Wash, Murphy USA, and plans for a new Aldi and Bojangles restaurant.
We are location and site selection advisors. Let us help you find your next great location for you business. Visit www.SterlingSelectSites.com.
Momentum
Hello Clients/Friends/Colleagues:
Hope all is well with you and yours. Now that Summer is over and school is back “in”, I thought I’d touch base. It’s been a crazy few months and I’m sure you all have been working hard to sustain your businesses and keep some sanity. I think we will all look back on 2020 and say we were just glad to have that behind us…
I’d love to hear from you on how things have gone with your businesses as I can share insights from many of my other clients who have survived and some of which have actually thrived. Many businesses have had to make adjustments to overall strategic plans and certainly space plans, so I’ve been doing a lot of advising and counseling and talking and spit-balling ideas. I enjoy when clients confide in me and trust that I can help find solutions to their challenges—even if it has nothing to do with their commercial real estate!
I want to emphasize how it’s more important than ever to get a grasp on your leases and mortgages. That means you can tell me when your lease is expiring, when you have to notify the Landlord of your intention to renew, and how much rent you are paying. And if you own your building, you can tell me your monthly payment and annual interest rate. Don’t be embarrassed if these details aren’t top-of-mind. Just don’t get blindsided when something in your real estate world sneaks up with a surprise like a lease expiration. And knowing your mortgage information will enable you to understand if you can free up some cash with a refinance with the historic low interest rates!
Your lease/mortgage expenses represent a large percentage of your overall expenses and it’s an area that I am uniquely qualified to share an opinion that may help in this area. If you even have 18 to 24-months remaining on your lease term, it’s not too soon to think about whether you want to stay/go or buy/sell. And if you need capital for your core business, a refinance or a sale-leaseback may be something worth a short discussion.
If you are uncertain about your situation and would like to explore your options after a quick review, let’s talk. This is a time to leverage your professional networks, including your commercial real estate advisor(s), so please call me if I can be of service!
And as an aside, as I look at my pipeline, so much of it is repeat-business and referral business. That hopefully means I’ve taken good care of my clients! If you know of anyone that needs help with their commercial real estate, I’m always happy to talk and share my thoughts.
Since I’ve been fairly absent from social media and email blasts since April, I’d like to share what we’ve been up to. We’ve stayed very busy helping our clients and I am excited about the momentum we’re seeing on the commercial real estate front!
Here are some highlights of what we’ve been up to along with some takeaways:
➡️ We’ve worked on several lease renewals. One of my client deals had started as an expansion that had to be renegotiated to a simple renewal in lieu of the downturn. We found all the respective landlords were great to work with. Tenants and Landlords have all been impacted and it’s nice when everyone can pull together and keep relationships intact through challenging times!
➡️ One multi-city search for a client was pulled in lieu of Covid and we’ve regrouped to focus more effort on their core operations here in Charlotte. I hope to have a deal to announce in next week or so. This unprecedented business interruption has made it important to focus on the core competencies. As the economy regains strength, we can all aim for more growth, but we’ve got to survive the present first!
➡️ We have several site selection closings in the pipeline. I’m grateful that carwash and automotive service sectors remained fairly resilient in the Covid-economy. You’ll see several of my deal announcements in social media soon. One that closed last month was over 4-years from LOI to Closing! That’s unusually long for any deal, but both sides were patient and very communicative and stayed focused on the prize!
➡️ We relocated an industrial client that had been pushed out of the light-rail corridor near NODA. We found a great lease in a warehouse on Hovis Road and secured a long-term lease. There was even a change in ownership at the tail-end of our lease negotiation, but thankfully, the new owners moved right along in stride. I was impressed that City plan reviews and construction inspections were not drastically impacted and the construction timelines were achieved!
➡️ We helped secure a new dental office for a repeat-client in Cary this month and have two more dental office searches in the pipeline. The dental industry got hit pretty hard, but has bounced back. I love this segment of our business because independent dentists are all entrepreneurs at heart!
➡️ We just signed a new listing on a vacant Walgreens in Walterboro, SC that you’ll see info on soon. It’s cool to see a project last 25 years in its intended use. Maybe it will attract another tenant and live on, or maybe be demo’d and become something new and exciting! We’ll be sure to explore any and all options, so our Owner will make the best decision based on all the information available!
So thanks for tuning in this far as I hope to put out a monthly version of My Two Cents going forward. We appreciate that our clients and colleagues help us continue to do what we love to do—help people and businesses establish a firm foundation for success with commercial real estate!
Stay well and stay in touch!
Sincerely,
Matt
7227 Pineville Matthews Road
Suite 600
Charlotte, NC 28226
o. 704-541-0901
info@sterlingpropertiesgroup.com
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Commercial Real Estate A-Z Video Series
Hey Friends & Colleagues–I’ve got something really cool to share with you. Most of you know that a part of my full-service commercial real estate business involves providing clients with location and site selection services (hence my tagline Location and Site Selection Advisor).
In an effort to share some of my experience in this arena, I’ve been working on a video series called “Site Selection A to Z” where I cover the most important topics in Site Selection.
I hope you enjoy this series and will follow for my videos every upcoming Wednesday until we finish the entire alphabet (even the tough letters)!! They’ll ultimately be housed on my website and YouTube channel so if you miss one, you can go back later and find them.
Charleston Shoe Co.
Now Open!
SPG is pleased to have assisted Charleston Shoe Co. on its recent opening at Lumina Station near Wrightsville Beach in Wilmington, NC. Charleston Shoe Co. will join other boutique retailers, restaurants, and offices at this truly unique “shopping village by the beach.”
Visit their website: www.CharlestonShoeCo.com.
We are location and site selection advisors. Let us help you find your next great location for you business. Visit www.SterlingSelectSites.com.
Greenway Express Carwash, Charlotte, NC
Greenway Express Carwash For Sale!
Greenway Express Car Wash is FOR SALE. This is an excellent opportunity in Charlotte, NC.
Property Details:
–Built in 2012
–Approx. 100′ tunnel with 16 vacuum stalls.
–Cross access to traffic signal at Sandy Porter Rd.
–Serving Ayersley area and Steele Creek communities—high growth rates.
–High traffic counts and daytime population.
Price: Contact agent for details/Subject to NDA
DO NOT DISTURB MANAGER, EMPLOYEES OR CUSTOMERS ON SITE.
Please call me at 704-995-9975 for more details.
Thanks for the look—bring us a Buyer!!
The Car Wash Lodge
Coming Soon!
Sterling Properties Group, Inc. is pleased to have assisted The Car Wash Lodge in the acquisition of the 1.57 acre outparcel the WalMart Supercenter located on Hwy. 42 just east off I-40 Exit 312 in Garner, NC.
The new Car Wash Lodge is expected to open mid-2020 and will feature both Express Wash and Full-Service Wash. This will be their third location along with their other locations in 100 Crescent Drive off Kildaire Farm Road in Cary, NC and at 1004 Morrisville Carpenter Road near Davis Drive in Morrisville, NC.
Visit their website: www.TheCarWashLodge.com.
We are location and site selection advisors. Let us help you find your next great location for you business. Visit www.SterlingSelectSites.com.
Jacuzzi Hot Tubs of Charlotte
Sterling Properties Group, Inc. is pleased to have assisted the owners of Jacuzzi Hot Tubs of Charlotte in the acquisition of the 25,354 square foot retail showroom building located at 1815 Windsor Square Drive in Matthews, NC.
Jacuzzi Hot Tubs of Charlotte is now open for business, so please go check it out and tell them that Matt sent you!
“When the opportunity to take over the Jacuzzi line in Charlotte came up, we had to move quickly. Matt made us a top priority and did an excellent job in helping us evaluate the market and all our options before we focused on acquiring this building near Windsor Square. His market knowledge and experience helped us tremendously in getting this negotiated quickly and closed smoothly. We highly recommend SPG!”
-Todd Schupbach/Owner
For Sale: Operating Full Service Car Wash Douglasville, GA
Do Not Disturb Manager, Employees or Customers on site.
11,075 SF carwash built in 2011 on 1.04 acres for sale. Located in Western Atlanta MSA just 20 miles from Atlanta (I-20 Exit 36) on a high traffic signalized corner. This is a major retail shopping area (regional mall and power center). The sale includes the business, property, and FFE.
Price is $5,600,000.
Please call me at 704-995-9975.
Thanks for the look—bring us a Buyer!!