Hanley Investment Group, based in Corona Del Mar, CA, has successfully arranged the sale of Fast5Xpress Car Wash. This new-construction single-tenant property is located in Ontario, CA within the Inland Empire. Bill Asher and Jeff Lefko represented the seller Evergreen Development for a 35-year absolute triple net ground lease transaction worth $3.5 million to a private investor from Orange County.
Asher commented on how car wash businesses are service based and therefore internet resistant which makes them ideal for long term growth due to their low overhead per location as well as customer lifetime value expanding with ‘unlimited wash’ subscription programs becoming more popular throughout Southern California where Fast5Xpress currently operates 20 locations with two more under development near Ontario Mills Mall off Interstate 10 spanning 4500 square feet built in 2021 .
