Investment Overview

The Tenant, Wawa Inc., is subject to a new 20-year NNN ground lease with the store opening in November 2025. The lease features 10 percent (10%) rental increases every five years during the base term and six, five-year options, providing revenue growth and a hedge against inflation. This rent structure is highly unique as most Wawa locations in this region do not have this rent increase structure. Wawa will operate in a 5,915-square-foot store with six multiproduct dispensers (MPDs). The Tenant boasts an investment grade shadow rating of “BBB+” by Fitch. The tenant is situated upon a 2-acre square parcel along Dixie Highway formerly occupied by Logan’s Roadhouse. The site is immediately across from a 66,500 square-foot Honda Auto Mall and 44,300-square-foot retail center. The property is highly visible to 46,773 VPD with right-in, right-out access along northbound Dixie Highway and full access via both Trent Avenue and Kurz Way. The parcel has approximately 300’ feet of frontage along Dixie Highway, a major north–south arterial road and popular commercial corridor. The site is within one-mile from notable anchors, Kroger, Walmart Neighborhood Market, Lowe’s, and The Home Depot, who collectively draw 3.96 million annual customer visits. Other notable names include Chick-fil-A one-half mile south, and Raising Canes just north. Within the last year, Burlington, Ross, Ulta Beauty, and Five Below all opened along this corridor, an indication of its vibrance and draw to national retail brands.