PHOENIX AND LAS VEGAS — Marcus & Millichap has brokered the sale of six Ultra Clean Express Car Wash net-leased properties located across Phoenix and Las Vegas. The portfolio sold for $41.4 million.
Chris Lind, Zack House and Mark Ruble of Marcus & Millichap’s Phoenix office represented the seller, a limited liability company. Ryan Sarbinoff served as Marcus & Millichap’s Arizona broker of record and Drank Cameron Glinton served as Marcus & Millichap’s Nevada broker of record. The buyer was not disclosed.
Each asset includes a new 20-year, triple-net lease with corporate guarantee and a 10 percent rental increase every five years.
Ultra Clean operates under multiple brands, including Ultra Clean, 3 Minute Car Wash, Rinse N Ride, Sparkle and Fast & Friendly.