Tenancy: Mister Car Wash
Building Size: 5,400 SF
Lease Expiration: 20 Years from COE
Rental Increases: Annual
• New Single-Tenant Mister Car Wash Sale-Leaseback:
∘ Corporately guaranteed lease by the largest car wash operator in the U.S.
∘ Absolute NNN lease with zero landlord responsibilities
∘ 20-year initial lease term with four 5-year options
∘ Annual increases during primary term and options
∘ Brand new 2022 construction
∘ High sales volume location and ramping quickly
• About Mister Car Wash:
∘ 420 locations with numerous new sites set to open in 2023
∘ 60 new sites in the last year, a 16.7% increase
∘ $853 million in total revenue (TTM)
∘ 1.86 million Unlimited Wash Club members, an 18.9% year-over-year increase
∘ Publicly traded company (NYSE: MCW)
• No Direct Competition: Within a 3-mile radius
