Mach One Holdings Cleans Up in $8M Sale-Leaseback of Car Wash Properties
Centre, AL-based Mach One Holdings has completed the sale of a two-property Mach-1 Express Wash sale-leaseback portfolio with locations in Cedartown, GA and Forest City, NC for $7.9 million.
Austin Blodgett of RealSource Group, in association with Chris Salemi of Aileron Capital Management represented the seller. The buyer was an institutional buyer based in New Jersey and represented themselves.
“The buyer purchased the two properties as a sale-leaseback from Mach-1 for a long-term hold and is taking advantage of the new, long-term lease, annual increases and 100% bonus depreciation tax benefits that come with car wash properties in 2022,” said Blodgett.
1559 Rome Highway in Cedartown is single-tenant 4,000-square-foot Mach-1 Express Wash is situated on a one-acre pad in a Walmart anchored-shopping center and across from a Home Depot-anchored shopping center.
157 Plaza Drive is a new, single-tenant 4,000-square-foot Mach-1 Express Wash, is located on a one-acre pad to a Walmart-anchored shopping center in Forest City, near the salt of Myrtle Beach.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.