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Wawa | Recast Lease | Central New Jersey | Large 5.86 Acre Parcel

116 Brick Blvd, Brick Township, NJ 08723

Listing Price: $7,829,412

Cap Rate
4.25%
Tenant Name
Wawa
Years Remaining On Lease
20.0
Guarantor
Corporate Guarantee
Rentable SF
5,576
Lease Type
NNN Ground Lease
Rent Per Square Feet
$59.68

Investment Overview

The Tenant, Wawa Inc., agreed to recently recast its lease to a new 20-year NNN ground lease, with four, five-year renewal options. The lease features 7.5 percent rental increases every five years beginning in year 11, which provides an excellent hedge against inflation. The Tenant boasts an investment grade shadow rating of “BBB” by Fitch.

Investment Highlights

  • Recast Lease; New 20-Year Term; Shadow Anchored Rated "BBB" by Fitch
  • Early Extension an Indication of Location's High Performance
  • Large 5.86-Acre Parcel with 48,715 VPD

Broker of Record

  • John Horowitz

    First Vice President/ Division Manager

    (718) 475-4300

    License(s) NJ: 2192359

    New Jersey

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Auto Service - Gas-Conv

Wawa | Recast Lease | Central New Jersey | Large 5.86 Acre Parcel

Listing Price: $7,829,412

Cap Rate
4.25%
Tenant Name
Wawa
Years Remaining On Lease
20.0
Guarantor
Corporate Guarantee
Rentable SF
5,576
Lease Type
NNN Ground Lease
Rent Per Square Feet
$59.68

Investment Highlights

  • Recast Lease; New 20-Year Term; Shadow Anchored Rated "BBB" by Fitch
  • Early Extension an Indication of Location's High Performance
  • Large 5.86-Acre Parcel with 48,715 VPD

Investment Overview

The Tenant, Wawa Inc., agreed to recently recast its lease to a new 20-year NNN ground lease, with four, five-year renewal options. The lease features 7.5 percent rental increases every five years beginning in year 11, which provides an excellent hedge against inflation. The Tenant boasts an investment grade shadow rating of “BBB” by Fitch.

Broker of Record

  • John Horowitz

    First Vice President/ Division Manager

    (718) 475-4300

    License(s): NJ: 2192359

    New Jersey

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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