IE Business Daily Business news for the Inland Empire.
A car wash near Ontario Mills has been sold for $3.5 million.
Fast5Xpress Car Wash was sold to a private investor from Orange County whose name was not released, according to a statement released by Hanley Investment Group in Corona Del Mar.
Hanley Investment represented Evergreen Development, the project’s developer.
Built two years ago, Fast5Xpress Car Wash sits on 1.1 acres at Ontario Mills Parkway and Inland Empire Boulevard, an intersection that accommodates more than 16,000 vehicles a day.
Fast5Xpress is one of the fastest-growing express car wash chains in Southern California, with 20 operating locations and two more being developed.
“The Ontario Mills Mall area is an outstanding regional retail destination pulling consumers from all over the Inland Empire,” said Bill Asher, vice president with Hanley Investment and a member of the negotiating team, in the statement.
The average Ontario household owns at least two vehicles, and nearly 280,000 people with an average household income of $96,660 live within five miles of the Fast5Express site, Asher said.
