Hanley Investment Group Real Estate Advisors successfully facilitated the sale of two brand new, single-tenant properties occupied by Quick Quack Car Wash to private buyers in just 30 days. The two properties, located in Grand Terrace and Lodi, were sold for a total of $5.38 million and each had a newly signed absolute triple-net ground lease with a 20-year initial term.
In the first transaction, Hanley’s Executive Vice Presidents Bill Asher and Jeff Lefko represented both the seller and developer, 5th Street Development from Del Mar. They negotiated the sale of Quick Quack Car Wash’s new ground lease at 22181 Barton Rd. in Grand Terrace for $2.7 million to a private investor based in Pasadena who was represented by Patrick Toomey from Institutional Property Advisors.
The second transaction involved Asher and Lefko representing the seller of another newly developed property at 515 S Lower Sacramento Rd., this time located in Lodi for $2.68 million.The property was developed by MEE Capital Investments along with AdVal Properties Inc., while John Kourafas from Visintainer Group acted as representative forthe central California-based buyer who remains anonymous.
This successful completion is yet another testament to Hanley Investment Group Real Estate Advisor’s expertise when it comes to facilitating quick sales within tight deadlines.
