Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Lease Type NNN
Lease Expiration 2040-09-30
Remaining Term 19 years, 7 months
Tenant WAWA, Incorporated
Building Area
Land Area ()

Property Description

JLL is pleased to exclusively offer the opportunity to acquire a newly constructed, single tenant Wawa gas and convenience store location in a densely populated and affluent, Philadelphia suburb (the property). Wawa is operating on a 20-year, NNN ground lease with zero Landlord responsibilities and rare, 10% rental increases every five years commencing in year six. The escalations will continue throughout the primary term and in each of the six (6), five (5) year renewal options that remain. 

Investment Highlights

  • Wawa is operating on a brand new, 20-year NNN ground lease with zero Landlord responsibilities. The lease contains rare, 10% rental increases every five years commencing in year six
  • Wawa’s 1.62-acre, corner parcel is situated at the fully signalized intersection of Bustleton Pike (PA-532) and E Street Road (PA-132). Together, these two arteries boast nearly 75,000 vehicles per day
  • Wawa is bordered by two, pandemic-proof, grocery-anchored retail destinations. Giant Feasterville Square, a Giant-anchored shopping center, is 0.4 miles north along W Street Road, while Bucks Crossing, an ACME-anchored shopping center, sits just beneath the site along E Street Road
  • Wawa was ranked as the 2nd best convenience store in America in 2019 by Food & Wine
  • Feasterville Trevose is located in Bucks County Pennsylvania, which is the third wealthiest county in the state. The Property is also just a 20-mile drive from Center City Philadelphia – the 6th largest city by population in the United States in 2019 (U.S. Census Bureau)
  • The property benefits from excellent demographics. There are more than 236,000 people within a 5-mile radius who earn an average household income of $106,000
Last Updated Date: 09 Dec 2020
Marc Mandel
Managing Director, Capital Markets
Steve Schrenk
Director, Capital Markets

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Last Updated Date: 09 Dec 2020

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