Overview

Description

• The tenant has over 16 years remaining on their initial term with an additional 6 (5-year) option periods to extend
• The lease features 1.25% annual rental increases throughout the initial term and options, steadily growing NOI and hedging against inflation
• The lease is guaranteed by the corporate entity
• Founded in 2020, ModWash has quickly became among the top U.S. express tunnel car wash brands with 92 operating locations

• ModWash is strategically located along Horner Boulevard with clear visibility and access to an average of 26,500 vehicles passing by daily
• The property benefits from direct access onto State Highway 87 (28,000 VPD) and US Highway 421 (13,500 VPD), making it a centralized location
• The subject is adjacent to the Shops at Cameron Place (159K+ SF), Southside Plaza (214K+ SF), and Shoppes at Sanford (291K+ SF)
• The surrounding tenants include Lowe’s, ALDI, Walmart Supercenter, Marshalls, Big Lots!, Save-a-Lot, Piggly Wiggly, Harbor Freight Tools, and others
• The strong tenant presence drives a loyal, local customer base to the area and promotes crossover store exposure

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