April 13, 2018 – Bob Horvath, Todd Tremblay and RJ Tuller of Horvath & Tremblay have successfully completed the sale of Zips Car Wash in San Antonio, Texas. Horvath & Tremblay represented the 1031-exchange buyer to close the property for a sale price of $2,300,000.
Zips is strategically located along the highly trafficked Fredericksburg Road (SR 345), a key thoroughfare connecting downtown San Antonio. Zips signed a brand new 20-year triple net lease at the close of escrow. The lease features rare 1.50% annual rent increases and is signed with the corporate entity Zips Car Wash, LLC. Zips is a highly respected operator and is currently the 2nd largest owner operator of express/conveyor washes in the country.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.