July 31, 2019 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Zips Car Wash in Roanoke, Virginia. Horvath & Tremblay procured the 1031 exchange buyer to complete the transaction at a sale price of $3,004,000.
Zips Car Wash operates under a 20-year corporate guaranteed triple net lease. The lease also includes six, 5-year renewal options and 1.5% annual rental escalations. The Property is located within Parkside Commons, a development anchored by Walmart Neighborhood Market and Fuel Center. Additional national tenants drawing consumers to the area include: Arby’s, Advance Auto Parts, Public Storage, Dollar General and Wells Fargo Bank.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.