B+E brokers sale-leaseback of Wilkes-Barre Cloud10 car wash property for $5 million

Industry: Real Estate

B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the Cloud10 car wash property at 150 Wilkes-Barre Blvd, Wilkes-Barre, PA for $5,000,000.

Wilkes-Barre (PRUnderground) August 16th, 2021

B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the Cloud10 car wash property at 150 Wilkes-Barre Blvd, Wilkes-Barre, PA for $5,000,000.

The NNN property carries a cap rate of 6% and a lease term of 20 years.  The seller is Cloud10 and the buyer is an individual net lease investor. This was the first ever sale-leaseback for Cloud10 Car Wash. The 6% cap rate is one of the five lowest cap rates for a new express car wash achieved in the US this year.

“The buyer found a great return with 20 years of lease term, and the seller was able to unlock equity in their underlying real estate,” said Jim Ceresnak and Spencer Henderson from B+E.

For more information, contact Jim Ceresnak at jceresnak@tradenetlease.com or Spencer Henderson at shenderson@tradenetlease.com.

About B+E

B+E is a modern investment brokerage firm, specializing in net lease real estate. The firm helps clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform consisting of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry.

Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies, and stronger asset value. With offices in New York City, Chicago, Atlanta, Tampa, Charlotte, Orange County, San Francisco, and Dallas, its brokers trade property for clients across the US. B+E allows virtually anyone to confidently trade net lease real estate.

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