Marcus $ Millichap (NYSE: MMI), a commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, has announced the sale of Royal Car Wash, a 94,525- square-foot property located at 925 East Dixon Boulevard inShelby, NC, to Edge Express, a national car wash chain.
This acquisition brings Edge Express to four operating locations with seven more in development across North Carolina, South Carolina, Virginia, and Maryland. “The fundamentals of this deal were textbook: high traffic count, strong surrounding retail, and ideal road frontage,” said Ben Etskovitz, an associate in Marcus & Millichap’s Houston office. “We’re excited for our sellers who had the opportunity to capitalize on this disposition in the highly desirable North Carolina market, he added.
“We will continue to expand our Southeast footprint through the acquisitions of best-in-class express car washes like Royal Wash,” said Luke Murray and John Hallett, owners of Edge Express Car Wash.