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 included a new 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 sold a ground lease for Quick Quack Car Wash 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 saw Asher and Lefko representing the seller of another new ground lease at 515 S Lower Sacramento Rd., this time located in Lodi where it was developed by MEE Capital Investments and AdVal Properties Inc.. The property was purchased for $2.68 million by another central California-based private investor who had John Kourafas from Visintainer Group acting as their representative.
Overall these successful sales demonstrate Hanley’s expertise within this market segment as well as their ability to quickly close deals on behalf of their clients.
