Progressive Real Estate Partners arranged the successful sale of Merit Auto Spa, a full-service car wash center located at 465 N. McKinley St. in Corona for $7,157,500. The purchase included both the business and real estate which had recently been renovated as an outparcel to the 270,000-square-foot Corona Hills Marketplace anchored by Walmart Supercenter, Vons PetSmart AutoZone Applebee’s and Red Robin.
Victor Buendia SVP of business and commercial real estate sales at Progressive Real Estate represented an Orange County based private party seller who was relocating out of state opting to sell through an online auction facilitated by Ten-X that attracted multiple qualified bids resulting in a successful non contingent all cash sale completed within 98 days.
The buyer is a Los Angeles County private investor who also operates car wash businesses in Temecula and Long Beach
