Wawa -2335 Water Tower Drive
Retail | 5.00% CAP | 5,919 SqFt
Marketing description
Katz & Associates is pleased to present for sale this brand-new 20-year absolute NNN ground lease with Wawa – one of the most sought after tenants in the single tenant market.
The lease provides for fixed rental increases throughout the entire term including options and is structured as an absolute NNN ground lease providing for no landlord management obligations.
Wawa increased revenue 22% in 2023 pushing them up to the 20th largest private company in the U.S., according to Forbes. They achieved an annual revenue of $18.23 billion up from $14.93 billion the prior year and $11 billion in 2021. The company recently revealed plans for “the most aggressive growth” in company history, according to CEO Chris Gheysen, with plans to open as many as 280 new stores over the next decade.
Investment highlights
- Brand-new 20-year lease
- Corporate guaranty with Wawa, Inc. – Investment grade credit (Fitch rating: BBB)
- Absolute NNN ground lease – No landlord management obligations
- Fixed rental increases throughout the lease including options
- Large parcel at hard corner signalized high-traffic intersection, with excellent access and exposure
- Wawa is one of the country’s largest privately owned companies in terms of revenue (moving from #23 in 2022 ($14.9B) to #20 in 2023 ($18.2B) and among the largest most successful convenience stores in the country
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
