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CAR WASH MADNESS - October 2023


Lots of carwashes are being built. Can Anchorage support it?

Spire Commercial has a client looking to do big things, and they are in search of 1.33 to 3 acres of vacant land in Anchorage to develop. To support this effort, we aggregated about 93 parcels in Anchorage that could potentially fit that description. In reaching out to those landowners, we were reminded that a number of carwashes are being built or the land has been purchased for the purpose of building a carwash. Tudor and Lake Otis, Abbott & Vanguard Drive, where E 5th Ave. & E 6th Ave. diverge/converge east of Karluk Street, and the former SeaGalley location on C Street are all sites for future car washes. A quick Google search turns up 30+ locations for car washing or auto detailing, including but not limited to: Laser Wash, self-service wash sites, Rainmaker, Magic Wand, Monster Wash, Pink Elephant etc. How much of this asset type can Anchorage support? The lines on the first sunny day in spring at the touchless carwashes around town would indicate plenty of room for new entrants into the market. Clearly, the math checks out for these new players.

Someone in the know about one of these new carwash developments shared with me that the group aims to outdo the competition. "Anchorage has a lot of outdated tech," they explained. This group believes they can streamline the car-washing process, providing faster, more efficient service compared to what's currently available. With their scale, capital, and local partnerships, they're poised to make it happen. They feel it’s a smart business move, and they're excited about offering the community a top-notch wash soon.



Are you planning to check out these new places when they open? Do you have a go-to carwash or detailing spot you're loyal to? Let me know! I'm thinking of giving my truck a good wash before winter decides to wreak havoc on it! Haha.


-Ryan

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