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8400 South Cicero Avenue, 13727 South Route 59, 780 North Addison Road & 1360 Lee Street
SOLD

WashU Carwash Sells Four Chicagoland Properties To Essential Properties Realty Trust For $18.41M

8400 South Cicero Avenue, 13727 South Route 59, 780 North Addison Road & 1360 Lee Street

Retail
clock iconSold 80 days ago
Scott Scurich
Camille Renshaw
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Summary

Sale
ILLINOIS
Retail

The retail property located at 8400 South Cicero Avenue, 13727 South Route 59, 780 North Addison Road, and 1360 Lee Street was sold for $18,411,962 in a transaction involving WashU Carwash selling to Peter M. Mavoides of Essential Properties Realty Trust in Burbank, Plainfield, Villa Park, and Des Plaines.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,411,962
  • Address: 8400 South Cicero Avenue, 13727 South Route 59, 780 North Addison Road, and 1360 Lee Street
  • Market: Burbank, Plainfield, Villa Park, and Des Plaines

Camille Renshaw and Scott Scurich from B+E Net Lease represented the buyer, WashU Carwash, and the seller, Peter M. Mavoides of Essential Properties Realty Trust, in the successful sale-leaseback transaction. Despite the typical Q1 slowdowns, the transaction highlights the sustained investor interest in carwash tenants within the net lease market, showcasing confidence in this specific sector.

Players

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    3

  • Agents

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  • Agencies

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Scott Scurich's profile picture
Scott Scurich
B+E Net Lease-image
President & Co-Founder
$18.4M Sold
Camille Renshaw's profile picture

Details

Deal Summary
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SOLD
IMAGE: Camille Renshaw, Peter M. Mavoides & Scott Scurich DATE: 04/23/2024 ADDRESS: 8400 South Cicero Avenue, 13727 South Route 59, 780 North Addison Road & 1360 Lee Street MARKET: Burbank, Plainfield, Villa Park & Des Plaines ASSET TYPE: Retail SELLER: WashU Carwash (@WashUCarWash) BUYER: Peter M. Mavoides - Essential Properties Realty Trust BROKERS: Camille Renshaw & Scott Scurich - B+E Net Lease (@BENetLease) SALE PRICE: $18,411,962 NOTE: B+E, a brokerage and technology platform for net lease real estate, facilitated the sale-leaseback of four WashU car wash properties in Chicagoland for $18,411,962, with Essential Properties Realty Trust acquiring from WashU Carwash. Led by Camille Renshaw and Scott Scurich, the B+E team orchestrated the transaction, demonstrating continued investor interest in carwash tenants within the net lease market despite typical Q1 slowdowns.

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Address8400 South Cicero Avenue, 13727 South Route 59, 780 North Addison Road & 1360 Lee Street

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