Tim Wild Brokers Sale of Motorcars Toyota Dealership in Cleveland Heights, Ohio to Martin Automotive Group
L to R: Matt Gile shakes hands with new owner Chad Martin following the sale of the Motorcars Toyota Dealership in Cleveland Heights, OH on March 8, 2023.
Motorcars Toyota Becomes Martin Motors of Cleveland
Yahoo News March 23, 2023
Tim Wild, Director of the Midwest and Plains Region for the Tim Lamb Group, the largest auto dealership sales and acquisitions firm in North America, has brokered the sale of the Motorcars Toyota Dealership in Cleveland Heights, OH to the Martin Automotive Group. Wild helped facilitate the deal, which closed on March 8, 2023, between owners Matt and Chuck Gile and the Martin Automotive Group. The dealership, which will become Martin Motors of Cleveland, Inc. dba Toyota Cleveland Heights, is located at 2950 Mayfield Rd. in Cleveland Heights, OH.
The main property, which is set on 6.3 acres, features a vast selection of new and used vehicles and is comprised of two structures including a 60,087 sq. ft. building that features a showroom, office, parts storage section, a service reception area, and service department that includes 50 service stalls and a second building which has been utilized as a reconditioned / detailing department. Additionally, the sale included an off-site 23,146 sq. ft. Motorcars Collision and Body Shop with a small retail component, located at 3077 Mayfield Rd. in Cleveland Heights, OH.
“It was imperative that we chose the right firm to represent us in the sale of Motorcars Toyota,” stated Matt Gile previous owner of Motorcars Toyota. “We were thrilled with the Tim Lamb Group and how they handled the transaction. They were relentless in their pursuit of finding the ideal buyer to take over a business that has been in our family for over 24 years. Tim was professional, organized, and thorough from the initial planning through the manufacturer approval.”
The Martin Automotive Group, was founded in 1985 and is led by President Chad Martin. This location marks the first Toyota store for Martin Automotive and the second store that Tim Lamb Group has sold them in the past six months. Martin Automotive now has over 650 employees and 19 locations, including five in Ohio.
Wild, part of the Tim Lamb Group since 2010, continues to broker the sale and transfer of businesses in the US. “It’s rewarding and a privilege to help both buyers and sellers handle life changing events,” stated Wild. “With this sale, Matt and Chuck Gile put their faith in the Tim Lamb Group, and were receptive to our suggestions and advice, allowing us to do what we do best. Our goal is to work together to find a buyer who will uphold the same values as the seller, and we found that with Chad Martin.”
In most recent years, the Toyota brand has become one of the most sought-after franchises in the industry, ranking first in Interbrand’s 2022 most valuable automotive brands. Motorcars Toyota is the sixth Toyota dealership that the Tim Lamb Group has brokered in the past year.