Wawa | Horsham, PA | 10% Increase in 2yrs | 611/PATP INT.
Trophy Location on Rte. 611 | 0.5mi to PATP (I-276) | Long-Term Abs.-Net Lease w/ 10% Increases
Marketing description
CBRE is pleased to exclusively present for sale this Absolute-Net Lease investment leased to Wawa, Inc., located at the signalized intersection of Easton Road and Blair Mill Road in Horsham, Pennsylvania. The property benefits from strong visibility at a signalized hard corner along a heavily trafficked retail corridor with exposure to 66,775 vehicles per day.
The Wawa operates on a long-term, corporately guaranteed Absolute-Net Lease with more than 12 years remaining on the initial 20-year term, six five-year renewal options, and scheduled 10 percent rental increases every five years throughout both the base term and all option periods. The Absolute-Net Lease structure provides a completely passive ownership experience, with Wawa responsible for all operating expenses, management, and capital items, including roof and structure.
The property is situated within a larger retail site also occupied by CVS and P.J. Whelihan’s, along with two additional improved and fully approved shovel-ready pad sites that provide future development upside across the overall site. The strong co-tenancy and established retail environment further enhance the long-term durability of the real estate.
Wawa, Inc. is a leading convenience store and fuel operator in the eastern United States and carries a shadow credit rating equivalent to BBB. The company ranks #21 on the Forbes 2025 list of America’s Top Private Companies and is Pennsylvania’s largest private company, generating approximately $18.64 billion in annual revenue. Wawa’s investment-grade credit profile and brand strength make it one of the most sought-after tenants in the net lease sector.
Investment highlights
Long-Term Absolute-Net Lease with 10% Rental Increases
The property is leased to Wawa, Inc. on a corporately guaranteed NNN ground lease, with the tenant responsible for all operating expenses and management of the property, creating a completely passive ownership structure. The lease has more than 12 years remaining on the initial 20-year term, includes six five-year renewal options, and features 10 percent rental increases every five years throughout the base term and each option period.
High-Profile Signalized Corner
Wawa is located at the signalized intersection of Easton Road and Blair Mill Road in Horsham, Pennsylvania, a heavily trafficked retail corridor with combined traffic counts of 66,775 vehicles per day. Wawa is part of a larger 8.169-acre site also occupied by CVS and P.J. Whelihan’s, along with two additional improved and approved “shovel-ready” pad sites for development. The overall site benefits from exceptional visibility fronting on Easton Road, numerous points of access, and a “main and main” location within an established retail corridor.
Investment Grade Credit
Wawa, Inc., with a shadow credit rating equivalent to BBB, is a leading convenience store and fuel operator in the eastern U.S., ranked #21 on the Forbes 2025 list of America’s Top Private Companies, and is Pennsylvania’s largest private company with an estimated $18.64 billion in revenue. Wawa’s credit provides a stable long-term investment, which is why the brand is among the most sought-after tenants in the net lease industry.
Regional Accessibility
The subject property is less than 0.5 mile from the interchange of Easton Road (Route 611) and the Pennsylvania Turnpike (I-276), which carries over 100,000 vehicles daily. This irreplaceable location adjacent to the turnpike interchange provides convenient and easy access for both local and regional traffic throughout Montgomery County and the greater Philadelphia area.
Established Rte. 611 Retail Corridor
Route 611, one of the most heavily traveled corridors in eastern Pennsylvania, includes a dense mix of national retailers, restaurants, and hotels, including Walmart, Sam’s Club, Giant, Lowe’s, Home Depot, Best Buy, AutoZone, McDonald’s, Wendy’s, Dunkin’, Sunoco, Verizon, and multiple Hilton and Marriott-branded hotels.
Exceptional Demographics
Horsham is in Montgomery County, immediately outside of Philadelphia, which is one of Pennsylvania’s wealthiest counties. Within a five-mile radius, the trade area includes 209,978 residents with average household incomes exceeding $148,000 and positive population growth.
Employment and Daytime Population Drivers
The property sits at the entrance to the Pennsylvania Business Campus, a major office hub with several million square feet of space occupied by national employers. Jefferson Health – Willow Grove is also located less than one mile away, contributing to a five-mile daytime population of 223,506.
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