About the Investment:
- 20-Year Triple-Net (NNN) Lease: At closing the tenant will execute a brand new 20-year absolute triple-net (NNN) lease. The lease will have no landlord responsibilities.
- Corporate Guaranty: The lease will carry a corporate guaranty from Tidal Wave Auto Spa.
- Attractive Rental Increases: The lease will feature 2.00% annual rental increases that will continue through the base term and into the five, five-year tenant renewal option periods.
- Potential Tax Benefits: Qualifies for 100% Bonus Depreciation.
Compelling Location Fundamentals:
- Strategic Asset Positioning | Outparcel to Walmart Supercenter
- Located in a Densely Populated Residential and Retail Corridor | Major National Tenants Include: Walmart, The Home Depot, Dollar Tree, NAPA Auto Parts, Hobby Lobby, Starbucks, Chick-fil-A, Subway, Zaxby’s, Popeyes, and Many More
- Heavily Trafficked Area | Over 20,000 VPD Along US-280
- Strong Academic Presence | 7 Schools Located Within a Five-Mile Radius |Total Combined Enrollment Exceeds 3,100 Students
Strong Brand, Exceptional Operator:
- Founded in 1999, Tidal Wave’s current footprint consists of 91 locations across 14 states in the Southeast and the Midwest.
- Unit count has grown 50% annually since 2017.
- The Company’s exceptional team and proprietary technology, cleaning products and systems deliver the highest quality car washes, complemented by unmatched customer service and state-of-the-art facilities.
- Tidal Wave is differentiated by its unique Unlimited Wash Club, which offers customers unbeatable value across an array of options, including exterior and interior cleaning, as well as a family plan.