6245 N 2Nd St Loves Park, IL 61111

This property, intended for use as a car wash, features a brand-new 20-year absolute triple net lease that will be executed at closing. The new build is scheduled for completion in 2025. The lease stipulates zero landlord responsibilities. Rent increases are scheduled at 2.00% annually. The lease is subject to a corporate guarantee from Tsunami Express, which has expanded from 6 to 16 locations since 2021, with plans to open 11 additional locations in 2025, targeting a total of 27 locations by the end of 2025. The property qualifies for 15-year accelerated depreciation and bonus depreciation. Tsunami Express is backed by the private equity firm P72 Hyperscale, part of Point72, a private equity firm with approximately $30 billion AUM. This partnership has facilitated Tsunami's expansion and the use of data and modern analytics to improve pricing models, marketing systems, on-site conversion, and customer retention rates through proprietary technology and algorithms. In 2024, Tsunami Express increased its membership base by approximately 44% and continues to demonstrate strong performance metrics compared to industry averages, with 82% year-over-year growth in 2023 and 44% year-over-year growth in 2024. The property size is 4350 square feet.