Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of South Bay Volkswagen in National City, California from Rudy Erm to Manny Sedano of Sedano Automotive Group
IRVINE, Calif., March 22, 2023 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of South Bay Volkswagen in National City, California from Rudy Erm to Manny Sedano of Sedano Automotive Group.
National City, home to South Bay Volkswagen for over three decades, has been an important part of automotive history since vehicle sales began to surge in the 1920s. The city was a well-known outpost for bootleggers during the prohibition era and became a popular stopover for Hollywood celebrities like Clark Gable. By 1955, multiple auto dealerships were thriving along a main road called National Avenue. These dealerships banded together to start advertising themselves as the "Mile of Cars".
South Bay Volkswagen joined the Mile of Cars in 1990 under ownership of Rudy Erm, Sr. The dealership has been family owned since inception, and was taken over by Erm's son, Rudy Erm, Jr., who has operated South Bay Volkswagen until its recent acquisition.
National City's Mile of Cars currently has 11 active dealerships representing 17 auto brands and remains as one of the oldest and most successful auto rows in the United States. South Bay Volkswagen is the third Mile of Cars dealership sale facilitated by Performance Brokerage Services in the last three months, previously selling Frank Subaru and Frank Toyota to Dalton Corporation from Mexico.
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. In 2022, the company consummated 92 transactions, marking a record-breaking year. Jason Stopnitzky, the exclusive agent for this transaction and Co-Founder of Performance Brokerage Services commented, "I want to personally congratulate Manny Sedano and the Sedano Automotive Group on their acquisition of South Bay Volkswagen on the famous Mile of Cars in National City, California. From the start of negotiations, Manny and his team conducted themselves as consummate professionals. They executed on every commitment made and worked quickly towards an expeditious close. Manny and his group are becoming a household name in the San Diego market and with the acquisition of this new store, Manny and his team will undoubtedly be the number 1 Volkswagen dealer in the county. I sincerely appreciate Manny, as well as his candor and professionalism over the last three months."
Manny Sedano, President, founded Sedano Automotive Group in 2006. With the acquisition of South Bay Volkswagen, Sedano Auto Group currently operates five locations across San Diego County.
Sedano stated, "Jason Stopnitzky of Performance Brokerage Services and I have known each other for years and he kept a record of what I want to do here in San Diego. He offered me advice on how I should proceed with my business plans many times. One evening, out of the blue, he called me and said he had a store I would not be able to refuse, but I had to act quickly. He definitely showed up with the right store for me, and we were in escrow in less than a week! I am very pleased with the purchase of South Bay Volkswagen in National City and want to thank Jason for making it possible. I'd also like to thank Jonathan Forgy, CPA and Partner for Performance Brokerage Services, for his professional help. I wish the Erm family happy days into retirement."
The dealership will remain at its current location at 3131 National City Boulevard in National City, California and will be renamed Volkswagen of National City.
Rudy Erm was represented by Edward J. Siegler of the Law Office of Edward J. Siegler, Esq. in Los Angeles, California.
Manny Sedano was represented by Les Chayo of Chayo Law in Beverly Hills, California.
Performance Brokerage Services, Inc. is North America's highest volume dealership brokerage firm, specializing in buy-sell activity for automotive, RV, commercial truck, powersports, and equipment dealerships.
With over 25 years of experience, 700 dealerships sold, and a 90% closing rate, the company's reputation is unmatched and governed by the utmost ethical conduct and integrity.
The company offers a unique approach by providing complimentary estimates of value with no upfront fees or retainer, no reimbursement of costs, and paid a success fee only after the transaction closes.
Headquartered in Irvine, California, and supported by 9 regional offices in Utah, Texas, Illinois, Florida, Virginia, Ohio, New Jersey, Alberta and Ontario, clients benefit from national exposure with local representation.
As trusted and respected experts in the field, the company utilizes an extensive network of industry related attorneys, accountants, hundreds of registered buyers, and longstanding relationships with various vehicle manufacturers.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
SOURCE Performance Brokerage Services, Inc.