IE Business Daily Business news for the Inland Empire.
A car wash under construction in Moreno Valley has been sold for $3.2 million.
Quick Quack Car Wash is being built at the Moreno Valley Marketplace Shopping Center at Perris Boulevard and Iris Avenue next to March Air Reserve Base according to Hanley Investment Group Real Estate Advisors.
Hanley Investment represented the seller, Inland Iris Partners, Inc., an affiliate of The Lynch Group Inc. of Manhattan Beach, California. Inland Iris Partners is also the developer.
The buyer was a private investor based in Rancho Palos Verdes.
This is Hanley Investment’s 47th express car wash sale in the last two years. An opening date for the Moreno Valley site was not disclosed.
“The car wash business, which is service-based and internet-resistant, is over a $15 billion industry that is growing 3.2 percent annually,” said Bill Asher vice president with Hanley Investment, in a statement.
Tenants at the intersection include The Home Depot, Fitness 19, Carl’s Jr., Del Taco, Domino’s Pizza, IHOP, KFC, Pizza Hut, Subway, and Walgreens, according to the statement.
