• 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
∘ Dense and Affluent Demographics: $100,000 avg. household income within 3-mi, and 152,000 people within 5-mi
∘ Strong Sales Volume Location
• No Direct Competition: Within a 3-mile radius
About Mister Car Wash:
∘ 436 locations with numerous new sites set to open in 2023
∘ 40 locations open in the last year, a 9.6% increase (YOY)
∘ $876.5 million in total revenue (2022)
∘ 1.88 million Unlimited Wash Club members
∘ Publicly traded company (NYSE: MCW – see 2022 performance here)
