April 10, 2024
CONTRUCTION COMPLETED – NOW OPEN
We are pleased to announce that the business license and occupancy permit for NationWide V Express Auto Wash (the “Coquitlam Property” or “Property”) were issued on March 14, 2024, by the City of Coquitlam and the location is now open for business.
The Coquitlam Property is our 3rd Express Auto Wash location in the Greater Vancouver area and the 4th in B.C. The 29,287 sq. ft. Coquitlam Property houses Canada’s most modern, state-of-the-art 5,000 sq. ft., 160’ EDT (Exterior Detail Tunnel) system and includes eco-friendly, water recycling technology.
This high visibility, high-profile Property is strategically positioned on one of the busiest corridors in Greater Vancouver and adjacent to the Trans-Canada Highway. Located right on Lougheed Highway, the location is situated directly across from the largest IKEA store in Canada, and third largest in North America. This exceptionally well-located Property has approximately 56,000 – 63,000 vehicles passing by daily. Vehicle traffic is anticipated to grow over the coming years due to regional development projects.
The newest Express Auto Wash location is very close to the planned Fraser Mills community development along the Fraser River. The development is located on a 96-acre Fraser River industrial waterfront site in southwest Coquitlam — at the foot of King Edward Street, just south of the Trans-Canada Highway and IKEA.
With 5,500 homes to be built in the coming years, the newest development is anticipated to house 10,000 residents when complete. The development is set to provide at least 100,000 sq. ft. of retail/restaurant uses, including a grocery store for area residents.
The Coquitlam Property has been eagerly anticipated by local Coquitlam residents and the neighboring communities of East Burnaby and New Westminster. With explosive development occurring in these adjacent districts as well, there has been huge interest in this newest Express Auto Wash location, from businesses and residents in the surrounding regions.
We thank our investors for their patience as we announce this significant milestone. We are very excited for the coming months and years. Express Auto Wash is changing the car wash industry in Canada, with best-in-class tunnel wash technology, together with an industry-leading customer service experience. Our next investor update will be in July 2024 reporting on the first few months of operations of the car wash.
We look forward to providing investors with a more complete report on a fully operational business in our next update.
To download a PDF of this update, click here.
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THE ABOVE INFORMATION IS SPECIFIC TO NATIONWIDE EXPRESS AUTO WASH TRUST AND ITS PROPERTY AT 1035 LOUGHEED HWY, COQUITLAM, BC. TO REVIEW OTHER PROPERTIES RELATED TO NATIONWIDE SELF STORAGE OR EXPRESS AUTO WASH, PLEASE VISIT OUR WEBSITE.
This information is general in nature and does not constitute an offer to sell or an advertisement, solicitation, or recommendation to buy securities. Nothing on these pages constitutes investment, legal or tax advice, nor was it prepared in consideration of the investment objectives, financial situation, particular needs of any specific recipient. There can be no assurance that investments will perform as or be of the quality anticipated. There are risks associated with any investment.