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

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.