IE Business Daily Business news for the Inland Empire.
A retail parcel in Grand Terrace occupied by a Quick Quack Car Wash has been sold for $2.7 million.
Del Mar-based 5th Street Development sold the property at 22181 Barton Road to a Pasadena developer, according to Hanley Investment Group Real Estate Advisors in Corona Del Mar.
Hanley Investment represented 5th Street Development, the property’s developer, in the negotiations. The property has a 20-year ground lease.
The buyer’s name was not released.
The 1.3-acre parcel is near a shopping center at Michigan Street and Commerce Way just off Interstate 215. An estimated 177,000 vehicles pass by the site on at typical day, and roughly 1.1 million people shop at the Stater Bros. annually according to the statement.
Other retailers at the shopping center include AutoZone, Miguel’s Jr., and McDonald’s.
Founded in 2004, Quick Quack is an express format car wash chain. It has more than 230 locations throughout California, Texas, Arizona, Utah, and Colorado.
