Press Releases
Marcus & Millichap Closes $27 Million Wawa Portfolio Sale in a 1031 Exchange
August 06, 2025
PHILADELPHIA, Aug. 6, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $27,142,794 sale of a four-property Wawa portfolio in Newtown, Pottstown, Warrington, and Fairless Hills, Pennsylvania.
“Earlier this year, we represented a client in the sale of two well-located shopping centers in Bucks County and this sale completes a 1031 exchange into four Wawa assets,” said Scott Woodard, senior director investments in Marcus & Millichap’s Philadelphia office. “These high-traffic, corporate-backed locations provide long-term stability and require significantly less management, which is exactly the optimization our client was aiming for.” Woodard and Derrick Dougherty, senior managing director investments with Marcus & Millichap, brokered the sales on behalf of the buyer, a Bucks County-based private investor. The sellers are large regional developers, local private owners and developers, and East Coast-based owners and operators. In March 2025, Woodard and Dougherty brokered the sales of Goodnoe’s Corner, a 34,660-square-foot town center in Newton, Pennsylvania, and Village Center, an 87,705-square-foot grocery-anchored shopping center in Bensalem, Pennsylvania to begin the 1031 exchange process on behalf of their client.
“Coordinating multiple sales and acquisitions across different markets requires precision and timing,” said Dougherty. “We worked closely with all parties to ensure a smooth transition from sale to reinvestment, helping our client meet all 1031 deadlines while securing high-quality assets.”
The properties in Newtown and Pottstown are 5,000-square-foot assets built in 2025. The Wawa in Warrington was constructed in 2025 on 5,585 square feet, and the Fairless Hills Wawa was built in 2023 on two acres.
“Earlier this year, we represented a client in the sale of two well-located shopping centers in Bucks County and this sale completes a 1031 exchange into four Wawa assets,” said Scott Woodard, senior director investments in Marcus & Millichap’s Philadelphia office. “These high-traffic, corporate-backed locations provide long-term stability and require significantly less management, which is exactly the optimization our client was aiming for.” Woodard and Derrick Dougherty, senior managing director investments with Marcus & Millichap, brokered the sales on behalf of the buyer, a Bucks County-based private investor. The sellers are large regional developers, local private owners and developers, and East Coast-based owners and operators. In March 2025, Woodard and Dougherty brokered the sales of Goodnoe’s Corner, a 34,660-square-foot town center in Newton, Pennsylvania, and Village Center, an 87,705-square-foot grocery-anchored shopping center in Bensalem, Pennsylvania to begin the 1031 exchange process on behalf of their client.
“Coordinating multiple sales and acquisitions across different markets requires precision and timing,” said Dougherty. “We worked closely with all parties to ensure a smooth transition from sale to reinvestment, helping our client meet all 1031 deadlines while securing high-quality assets.”
The properties in Newtown and Pottstown are 5,000-square-foot assets built in 2025. The Wawa in Warrington was constructed in 2025 on 5,585 square feet, and the Fairless Hills Wawa was built in 2023 on two acres.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
