Investment Overview

This two-tenant offering provides investment-grade credit and diversification from two esteemed brands. Wawa Inc., agreed to recently recast its lease to a new 20-year NNN ground lease with four, five-year renewal options. CVS has more than 11 years remaining on its NNN ground lease with structured rental increases in the option periods. The first option features a 21 percent increase, while the remaining four, five-year options include 10 percent increases. The Tenants’ structured rental increases provide an excellent hedge against inflation. Both leases were executed in 2007, almost 15 years ago before land and construction prices rapidly escalated. As a result, this offers an investor the ability to purchase well-below the price point of comparable offerings on the market today.