SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $4.46 million ground lease (land ownership) sale of a 3,595-square-foot property occupied by Quick Quack Car Wash.
SRS NNLG’s Managing Principals Matthew Mousavi and Patrick Luther represented the seller, a Southern California-based private developer. The buyer, a Southern California-based private investor, was represented by Kurt Yacko of DAUM Commercial. The closing cap rate was 4.4% which marks the lowest cap rate in the nation for a car wash-occupied property sold so far this year.
For the full story, go to Inland Empire Business Journal.