Auto Service - Gas-Conv
Wawa | 20 Years Remain | NYC MSA | Highly Visible 5.89 -Acre Parcel to 68,970 VPD
1512 NJ-23, Wayne, NJ 07470
Listing Price: $7,276,190
Investment Overview
The Tenant, Wawa, Inc., is subject to a 20-year NNN ground lease and opened at the location on December 14, 2023. The lease features rental increases of 10 percent every five years during the base term and four five-year option periods, providing an excellent hedge against inflation. Wawa will operate in a 4,736-square-foot store with eight fueling pumps situated upon 5.83-acres . Wawa boasts an investment grade shadow rating of “BBB+” by Fitch.
Broker of Record
-
John Horowitz
Senior Vice President/Division Manager
Financing By
Auto Service - Gas-Conv
Wawa | 20 Years Remain | NYC MSA | Highly Visible 5.89 -Acre Parcel to 68,970 VPD
Listing Price: $7,276,190
Investment Highlights
- New 20-Year Corporate Lease with 10% Increases Every 5 Years
- One of Northern NJ's Top Retail Markets with High Barriers to Entry
- Highly Visible 5.83-Acre Parcel to 68,970 VPD
Investment Overview
The Tenant, Wawa, Inc., is subject to a 20-year NNN ground lease and opened at the location on December 14, 2023. The lease features rental increases of 10 percent every five years during the base term and four five-year option periods, providing an excellent hedge against inflation. Wawa will operate in a 4,736-square-foot store with eight fueling pumps situated upon 5.83-acres . Wawa boasts an investment grade shadow rating of “BBB+” by Fitch.
Broker of Record
-
John Horowitz
Senior Vice President/Division Manager
Financing By
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