From left, Matthews Real Estate Investment Services' SVP and senior director of net lease Gary Chou and senior associate Jack Chang
DEL CITY, OK—Matthews Real Estate Investment Services reports it has successfully closed a $50-million sale leaseback of a multi-shop Collision Works portfolio in the Midwest in a deal it describes as the largest sale-leaseback transaction in the collision shop space.
Collision Works is an auto body collision and paint repair owned and operated company headquartered in Oklahoma. According to Matthews Real Estate, Collision Works has achieved its latest five-year goal plan in less than two years, Collision Works' primary strategy is to focus on building new ground up development or refurbish existing locations. Organic growth coupled with strategic acquisitions has allowed the company to grow efficiently and cost effectively, Matthews Real Estate states.
According to its website, Collision Works' portfolio is located in the states of Oklahoma and Kansas. Its retail stores in Oklahoma are located in: Ardmore, Broken Arrow, Deer Creek, Del City, Edmond, Mustang, Newcastle, Norman, Oklahoma City – Midtown, Shawnee, Tulsa – Central, Tulsa – South, Tulsa Hills and Yukon.
The company also operates facilities in Kansas in: Derby, Kansas City – Lenexa, Kansas City – Olathe, Wichita – Downtown and Wichita – West.
Matthews Real Estate Investment Services' SVP and senior director of net lease Gary Chou, and senior associate Jack Chang represented the seller and sourced the buyer in the transaction.
Matthews was able to provide the owner-operator with a comprehensive marketing process that procured multiple competitive offers from highly qualified buyers. With more than $100 million sold in the last year in the collision space, Chang was able to apply his in-depth market knowledge to the transaction and present a compelling property story to the buyer, the firm states.
“We had the honor and privilege to work with Collision Works on their growth strategy through this recapitalization transaction,” Chang says.
Chang and Chou are currently listing more than 20 collision properties nationwide and multiple sale leaseback portfolios.
El Segundo, CA-based Matthews Real Estate Investment Services specializes in shopping center, STNL, multifamily, leasing, management, portfolio disposition, sale/leasebacks, and 1031 exchange transactions.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
