Marcus & Millichap is pleased to present the exclusive listing in Pharr, TX. The tenant will enter into a brand new, 20-year triple-net (NNN) lease upon close of escrow with absolutely no landlord responsibilities. The base annual rent will be $210,000 and will be subject to 1.50% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease will have a corporate guarantee. International Car Wash Group operates more than 900 locations throughout the United States and Internationally.
About the Investment
✓ 20-Year Triple-Net (NNN) Sale-Leaseback: At Closing the Tenant Will Execute a
Brand New 20-Year Absolute Triple-Net Lease. The Lease Will Have No Landlord
✓ Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by
International Car Wash Group Ltd. (UK) “ICWG” and the More Than 900 Locations
Across Europe, Australia and the U.S.
✓ Accelerated Depreciation: This Property Qualifies for 15 Year Accelerated