B+E, a brokerage and technology platform for net lease real estate, has announced the sale of the Cloud10 car wash property at 150 Wilkes-Barre Blvd, Wilkes-Barre, PA for $5 million.
The NNN property carries a cap rate of 6 percent 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 percent cap rate is one of the five lowest cap rates for a new express car wash achieved in the United States this year.