Hanley Investment Group Arranges Sale of IE Car Wash

Corona Del Mar, CA-based Hanley Investment Group has arranged the sale of Fast5Xpress Car Wash, a new-construction, single-tenant property in the Inland Empire city of Ontario, CA. Bill Asher and Jeff Lefko represented the seller, Evergreen Development, in the $3.5 million, 35-year absolute triple-net ground lease transaction. The buyer was a private investor from Orange County, CA.

“The car wash industry is a service-based business, which makes it internet-resistant and poised for long-term growth,” said Asher. “There is less overhead per location due to the growing express car wash model. Furthermore, customer lifetime value is expanding due to ‘unlimited wash’ subscription programs.”

Built in 2021 and located adjacent to Ontario Mills Mall, Fast5Xpress Car Wash occupies a 4,500-square-foot building and is situated just off Interstate 10. Fast5Xpress is one of the fastest-growing express car wash companies in Southern California with 20 locations open and two more under development.

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