Progressive Real Estate Partners arranged the $7.15 million sale of Merit Auto Spa located at 465 N. McKinley St. in Corona, CA. The purchase included both the full-serve and detail business and the associated real estate. The recently renovated car wash is an out parcel to the 270,000-square-foot Corona Hills Marketplace, which is anchored by a Walmart Supercenter, Vons, PetSmart, AutoZone, Applebee’s, and Red Robin.
Victor Buendia, SVP of business and commercial real estate sales at Progressive Real Estate, represented the Orange County-based private party seller, who is relocating out of state and opted to sell the property through an online auction. The auction, facilitated by Ten-X, attracted multiple qualified bids, and resulted in a successful non-contingent all-cash sale, which was completed in 98 days. The buyer is a Los Angeles County private investor who also operates successful car wash businesses in Temecula and Long Beach.
