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Lake Elsinore, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.4 million sale of a single-tenant retail property located in the Inland Empire city of Lake Elsinore. Super Star Express Car Wash occupies the 4,116-square-foot building, which is situated within a Stater Bro.-anchored retail project under development. The newly built property operates on a 20-year, triple-net ground lease with 10 percent rental increases every five years.
Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Devco Inc., in the transaction. Dan Riley of CBRE represented the buyer, a private investor based in Southern California.