RipTide acquires 250-foot express tunnel in Newport News

RipTide Car Wash has acquired The Washplex Express Car Wash in Newport News, Virginia, adding a modern express tunnel facility to its growing portfolio. The deal was brokered by The Dargene Car Wash Group, an M&A and capital advisory team at Marcus & Millichap that focuses on the car wash industry.

According to reporting from Auto Laundry News, the transaction was handled by Jack Dargene and Patrick Breen of The Dargene Car Wash Group, who represented both the buyer and the seller. The site sits in the Hampton Roads market, a region RipTide views as part of its broader growth strategy.

A long-tunnel express asset

The Washplex Express is built around a 250-foot tunnel designed for high-throughput, efficiency-focused operations. The property is positioned in an established corridor with existing consumer demand, which the brokerage described as offering immediate cash flow along with long-term growth potential for the buyer.

RipTide framed the purchase as a natural extension of its expansion platform. Director of investments Jack Darene said the deal fits the kind of asset operators are currently pursuing, calling it the type of "quality, express-format asset" buyers are seeking in today's market. The emphasis on a long tunnel in an established location reflects a common acquisition thesis among regional chains looking to add sites with proven traffic rather than building from the ground up.

Why it matters for operators

This acquisition offers a window into what active buyers value in the current market. Long-tunnel express formats in established corridors with built-in demand remain attractive targets, particularly for operators pursuing regional or national scale. For owners weighing a sale, the deal underscores that well-positioned assets with strong throughput capacity and steady cash flow can still attract buyers through specialized car wash brokerages.

The fact that a single brokerage team represented both sides points to how consolidated and relationship-driven car wash M&A has become. Operators considering a transaction, whether buying or selling, should understand how dual representation works and what it means for pricing and deal terms. Sellers may benefit from a faster, smoother close, but should also confirm their interests are clearly represented in negotiations.

For independent operators competing in markets like Hampton Roads, each acquisition by a scaling chain changes the competitive landscape. A well-capitalized buyer entering or deepening its presence in a corridor can bring sharper marketing, membership programs, and operational efficiency. Smaller operators should monitor who is buying nearby and consider how their own throughput, pricing, and customer retention stack up against newly acquired, expansion-minded competitors.