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Tenant Profiles

WhiteWater Express Car Wash

B+E > B+E INSIGHTS > Tenant Profiles > WhiteWater Express Car Wash
02/29/2024 By B+E

WhiteWater Express Car Wash

https://www.whitewatercw.com/ | Freeman Spogli & Co.

9
Number on Market

$4.8M
Average Price

17.8
Average Remaining Term (Years)

5.86%
Average Cap Rate

WhiteWater Express Car Wash Tenant Overview

WhiteWater is a leading express car wash platform that has grown from a single-location operator in 2016 to over 60 locations currently across Texas, Oklahoma, Ohio, Kentucky, and Michigan.

Headquartered in Tomball, Texas, WhiteWater enables accelerated expansion through a multi-pronged, multi-regional growth strategy bolstered by Freeman Spogli’s extensive experience in scaling multi-unit businesses. Freeman Spogli & Co. is WhiteWater’s private equity firm that has invested over $5.3 billion in 67 portfolio companies, with an aggregate transaction value of over $25 billion. WhiteWater’s locations provide customers with free vacuums, air guns, wet/dry mat cleaning, and towel exchange. Its car wash system comes with triple color polish, high-power wheel cleaning, gold carnauba wax, rain-repellent glass wax, and high-intensity flash drying.

In recent expansion plans, WhiteWater has opened in Springfield, OH; Baton Rouge, LA; Richmond, TX; and Sturgis, MI, in Q2 2023. WhiteWater acquired Louisiana-based Classic Auto Space and Houston-based Bubble King Car Wash in March 2023.

WhiteWater Express Car Wash

Tenant Data:

COMPANY WhiteWater Express Car Wash
Guarantor Corporate Guarantee
Ownership Private
Private Equity Partnership Freeman Spogli & Co.
Headquarters Tomball, TX
Locations (North America) ± 125
Regions South, Midwest
Website https://www.whitewatercw.com/
Average WhiteWater Express Car Wash Info
Number on Market 9
Average Price $4,750,404
Average Remaining Term 17.8 Years
Average Cap Rate 5.86%
Average NOI $278,889
Average PPSF $1,073
Average Building SF 4,755 SF
Average Lot Size 1.41 AC
AS OF 7/26/2023

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