NEW YORK — B+E, a brokerage technology platform, today announced the sale of its seventh triple-net express car wash property in five months.
The property was in Florida and B+E represented the buyer in the transaction.
The buyer and seller were undisclosed.
The seven car wash properties that B+E has sold are located in four different states and collectively sold for more than $35 million.
Each property was sold individually, not as a portfolio.
“Demand exploded for newly constructed express carwashes with triple-net leases in 2021,” said Jim Ceresnak, associate director at B+E. “New investors have been flocking to this asset type as they learn more about the evolving carwashing business, which now focuses heavily on membership-based revenues. There are few net lease alternatives that offer similar revenue stability. I expect demand to only increase for triple-net carwashes in the coming year.”
B+E remains active in the carwash space to start 2022.
They currently have two carwash listings in New Jersey and one in Georgia with asking prices that total more than $20,000,000.
“B+E has established itself as a market leader in the triple-net carwash space — we intend to grow our footprint and help more clients achieve superior results in 2022,” said Ceresnak.