Hanley Investment Group Real Estate Advisors arranged the pre-sale of a new property leased to Mister Car Wash in Meridian, Idaho.

Hanley’s Executive Vice Presidents Bill Asher, Carlos Lopez, and Kevin Fryman, in association with Oakmore Inc.’s Managing Partner Jeff Selick and ParaSell, Inc., represented the seller and developer, an affiliate of Cadence Capital Investments of Greenwood Village, Colorado. The buyer, a private investor from Salt Lake City, Utah, was represented by Cushman & Wakefield’s Executive Director Ralph Riedel, also based in Salt Lake City.

“We generated multiple competitive offers within the first week of marketing and procured an all-cash buyer who owned other similar net-leased investments in their portfolio,” said Asher. “We structured the transaction with a quick two-week due diligence period and a 30-day escrow.”

Mister Car Wash signed a new, long-term, absolute triple-net ground lease. The new 2024-construction, 5,381-square-foot Mister Car Wash is situated on a 1.04-acre parcel near a proposed residential and retail development, featuring plans for 83 single-family homes, 45 townhomes, 280 apartments, a hotel, retail box, and pads.