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Calif. Distributor Continues Store Development

Current market conditions favor Laundromat business type: Steinberg

LOS ANGELES — Commercial laundry distributor PWS reports it is developing five new store locations across California, with another two locations in final lease negotiations.

The new retail Laundromats will serve customers in Angels Camp, Citrus Heights, Modesto, Orange and Salinas, Calif. Most of them will operate under the brand name SpinCycle Laundry Lounge. PWS is also close to finalizing deals in San Francisco and Long Beach.

Current market conditions—including an increasing number of renters; the availability of prime neighborhood retail real estate locations; increased flexibility by landlords, who often cover build-out costs; and entrepreneurial demand—favor the business type, says Brad Steinberg, co-president of PWS.

“Laundromats are stable, consistent performers as operational businesses,” Steinberg adds. “They are COVID-resistant as an essential business, Amazon-resistant, and recession-resistant. These are all great locations.”

The new Laundromats range in square footage from 1,440 to 5,600. All leases are 10 years with multiple five-year options.

PWS builds retail Laundromats and typically sells them to independent operators.