Tenancy: Mister Car Wash
Building Size: 5,381 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
• 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)
