Car wash buys land for $5M facility in Margate

Miami /
Mar.March 25, 2016 05:15 PM

Parkland-based Rising Tide Car Wash purchased the land for the company’s second location, this time in Margate. 

Rising Tide, a car wash company that employs adults with autism, paid $1.5 million for the land at 2970 North State Road 7, a spokesperson told The Real Deal. The company has plans to build a custom car wash, a project that will total about $5 million including land acquisition fees.

Mellion Realty represented the buyer, while High Street Retail USA represented the seller, 2970 N SR7 LLC. It’s slated to open by early 2017, according to a press release. The company has been in Parkland since 2013. The new location is estimated to employ about 50.

Rising Tide will be on the corner of State Road 7 and Northwest 29th Street. The 1.48-acre site was listed for sale in 2012, according to a Loopnet listing. The seller is controlled by Sean Leder of the Leder Group, a Boca Raton-based investment and property management firm. The property last sold for $775,000 in 2013.

In January, Publix Super Markets bought a Publix-anchored shopping center in Margate, at 7210 West Atlantic Boulevard, for $28 million. – Katherine Kallergis


Related Articles

arrow_forward_ios
From left: Ivy Realty's Anthony P. DiTommaso Jr. and Russell Warren Jr. (Ivy Realty in front of the Tower 101 office building at 101 Northeast Third Avenue in Fort Lauderdale (Ivy Realty)
Lease roundup: Ivy Realty scores tenants at Tower 101 in Fort Lauderdale
Lease roundup: Ivy Realty scores tenants at Tower 101 in Fort Lauderdale
Father-and-son team sells Margate industrial complex for $11M
Father-and-son team sells Margate industrial complex for $11M
Father-and-son team sells Margate industrial complex for $11M
Assisted living facility in Margate sells for $16M
Assisted living facility in Margate sells for $16M
Assisted living facility in Margate sells for $16M
Corinthian Waterford buys Margate rental complex for $21M
Corinthian Waterford buys Margate rental complex for $21M
Corinthian Waterford buys Margate rental complex for $21M
Carroll Organization CEO Patrick Carroll and 5750 Lakeside Drive in Margate (Carroll Organization, Apartments)
Lynd Living flips Margate apartment complex for $67M
Lynd Living flips Margate apartment complex for $67M
Extra Space Storage CEO Joseph D. Margolis and the warehouse at 750 and 780 S. State Road 7 in Margate, Fl. (Google Maps, ExtraSpace.com)
Extra Space Storage acquires Margate warehouse for $22M
Extra Space Storage acquires Margate warehouse for $22M
Investor picks up Margate shopping center for $11M
Investor picks up Margate shopping center for $11M
Investor picks up Margate shopping center for $11M
Michael Lynd Sr., Adam David Lynd and Constantine Scurtis of Lynd Living. (Lakes of Margate, Lynd)
Lynd buys Margate apartments from Grand Peaks for $51M
Lynd buys Margate apartments from Grand Peaks for $51M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...