LOS ANGELES, CALIFORNIA (December 2, 2019) – David Blum, senior director of NorthMarq’s Los Angeles office secured $2.4 million in acquisition financing for WhiteWater Express Car Wash. The property is located at 2300 West Kenosha Street in Broken Arrow, Oklahoma.
– 10-year term
– 30-year amortization schedule
– Permanent-fixed loan
– NorthMarq arranged financing for the borrower through its relationship with a credit union.
– The transaction featured a zero percent pre-payment penalty.
– The retail property contains 5,054 sq. ft.
– Lot size is 2.78 acres with 440 feet of frontage on Kenosha Street.
– The property was rebranded and renovated in 2019.
“The property is a single-tenant car wash with a 20-year initial lease term and four 5-year options and a corporate guarantee.”
– David Blum