• Tsunami Express Sale-Leaseback Portfolio:
∘ 4 total locations; 2 open and operating, 2 under construction with plans to open in Q1 2024
∘ Corporately guaranteed lease by Tsunami Express
∘ Absolute NNN lease with zero landlord responsibilities
∘ 20-year initial lease term with four 5-year options
∘ 1.50% annual increases during primary term and options
• Properties Must Be Purchased as a Portfolio
• About Tsunami Express:
∘ 10 locations and expanding rapidly with plans to reach over 30 sites by 2025
∘ 1 million cars washed in 2022, which is projected to double by 2024
∘ The founders and current management team collectively posses 50+
years of car wash and business operations expertise
• Backed by Global Venture Capital Firm, Point 72 Hyperscale, an Affiliate of Point72
∘ Acquired Tsunami in November 2021
∘ Founded by Steven A. Cohen, owner of the New York Mets and among
the top 100 on the Forbes billionaire list (more info)
∘ Parent company manages over $30 billion in assets and employs over 2,500 people globally
• Bonus Depreciation: Properties qualify for 80% bonus depreciation on car wash improvements
• Bulk of the Portfolio Located in the Milwaukee MSA:
∘ #1 largest MSA in Wisconsin
∘ Over 1.56M Residents
∘ Milwaukee is the 5th largest city in the Midwest
∘ Ranked 2nd in Manufacturing Workforce in USA
∘ Home to the headquarters of 6 Fortune 500 companies
• Corporate and Unit Level Financials and Construction Budgets are Available Upon Request (contact broker for details)