Hanley Investment Group Real Estate Advisors recently facilitated the pre-sale of a new BLISS Car Wash in Valencia for $3.72 million. This transaction marks Hanley’s 68th car wash sale within the past 36 months and their fourth property sale at this development, bringing their total sales to $13.84 million.
Executive Vice Presidents Bill Asher and Jeff Lefko represented both the developer and seller, Fountainhead Development of Newport Beach, while Jenny Eng from CBRE in Glendale represented the buyer – a private investor based in Los Angeles.
Through industry connections, Hanley was able to secure a 1031 exchange buyer and successfully close escrow with an efficient pre-sale marketing strategy. The team also structured a brief due-diligence period which resulted in closing escrow within seven days before construction was completed or tenant occupancy began – ensuring that BLISS would be paying rent upon closing.
This triple-net ground lease deal showcases Hanley’s expertise as they continue to dominate car wash sales across Southern California.
