In a significant move within the automotive industry, Performance Brokerage Services, a leading North American dealership brokerage firm, has announced the successful sale of Mercedes-Benz of Bellingham, along with Toyota of Bellingham, located in Washington state. The dealerships were acquired from Al Monjazeb by Go Auto, marking Go Auto’s first venture into the United States market.
Al Monjazeb, who purchased both Mercedes-Benz and Toyota dealerships in Bellingham back in October 2016, brings over three decades of rich experience in the automotive sector. Known for operating several luxury dealerships across the Pacific Northwest and California, Monjazeb currently manages dealerships in Bellevue and Lynnwood. Reflecting on the transaction, Monjazeb praised Performance Brokerage Services, stating, “Over the last 30 years, every transaction they have assisted me with was smooth and headache-free. That is what I call a great level of professionalism.” He specifically acknowledged Moshe Stopnitzky and Rob Armstrong from Performance Brokerage Services for their honesty and transparency throughout the process.
Performance Brokerage Services has solidified its position as the highest volume dealership brokerage firm in North America, having advised on over 300 dealership sales in the past 5 years alone. In an exceptional year, 2022 saw the company close a record-breaking 92 transactions. The recent sale of Bellingham Mercedes Dealership and its Toyota counterpart was exclusively facilitated by Moshe Stopnitzky, President, and Rob Armstrong, Senior Partner at Performance Brokerage Services’ Canadian headquarters.
Stopnitzky commented on the long-standing relationship with the seller, “We are very pleased to have been part of this transaction. Mr. Monjazeb has been a client of the firm for over two decades. Coincidentally, in 2016 we facilitated the sale of these dealerships to Mr. Monjazeb.” He extended best wishes to Go Auto on their inaugural U.S. acquisition, expressing confidence in their ability to build upon the “excellent reputation” established by Monjazeb at the Bellingham Mercedes dealership. Stopnitzky also thanked Mark Gleason for his legal expertise in completing the deal.
Rob Armstrong highlighted the positive collaboration with Go Auto, stating, “Working with Jared Priestner and the team at Go Auto was a pleasure. It was especially exciting to help them find just the right opportunity to enter the US market.” He noted Go Auto’s “determination to get the deal done” and expressed enthusiasm for future collaborations as they expand in both the U.S. and Canada. Armstrong believes Go Auto’s professionalism and market expertise will enhance Monjazeb’s legacy at the Mercedes-Benz dealership in Bellingham.
Go Auto, a family-owned business based in Canada, stands as one of Canada’s largest automotive groups with nearly 60 locations and 3,300 employees. This acquisition of Mercedes-Benz of Bellingham and Toyota of Bellingham represents a significant step in their expansion strategy, marking their entry into the competitive U.S. automotive market.
Jared Priestner, Principal at Go Auto, conveyed his appreciation for the brokerage services, “I would like to thank Rob Armstrong and the Performance Brokerage Services team for their outstanding work on our entry into the US market.” He praised Rob Armstrong’s ability to identify “the ideal stores” for Go Auto’s first U.S. acquisition and commended his communication skills throughout the transaction. Priestner added, “I found Rob to be the most honest and capable broker we have ever worked with, hands down! We look forward to doing more business with Performance Brokerage Services.”
While the Toyota dealership will continue operations at its current address on Iowa Street in Bellingham, Washington, an exciting development is underway for the Mercedes-Benz Bellingham facility. A new, state-of-the-art Mercedes-Benz facility is currently under construction on an adjacent parcel, promising an enhanced customer experience in the near future.
Legal representation in this transaction included Mark J. Gleason of Fennemore Dowling Aaron LLP, representing Al Monzajeb, and Danielle Hunt of Miller Nash LLP, representing Go Auto.
This acquisition signals a dynamic shift in the automotive landscape of Bellingham, Washington, with Go Auto poised to bring its extensive experience and customer-centric approach to the Bellingham Mercedes dealership and the local community.
