The asset sold for $7 million.
Scott Gould and Rory Shelby, investment specialists in Marcus & Millichap’s Orlando office, secured and represented the buyer, a private investor out of New York, with the assistance of Benjamin Yelm, broker of record.
“We’re excited to play a part in one of the largest collision repair real estate transactions in the last 12 months,” said Gould. “The buyer is a repeat client of ours who concluded his 1031 upleg with this acquisition. He was immediately attracted to this investment for a variety of reasons---Charlotte is one of the fastest-growing metros in the country and the property is tenanted with an industry leading operator.”
Caliber Collision Centers is the largest collision repair company in America, with more than 1,150 locations and I-CAR Gold Class Professional certified collision repair centers across 33 states. Caliber is consistently ranked among the highest in customer satisfaction in the industry and backs all repair work with a written lifetime warranty available at any of its repair centers.
The company repairs more than 850,000 vehicles annually. Caliber has developed strategic partnerships with 109 car dealerships throughout the U.S in addition to 58 insurance carriers, which include AAA, GEICO, Farmers, Liberty Mutual, Allstate and USAA.
Source: Marcus & Millichap