Wawa | Trophy Nashville Development
Brand-New 20-Year ABS NNN Ground Lease | 4.65% CAP | 5,915 SqFt
Marketing description
CBRE is pleased to exclusively present a brand new 20-year absolute NNN ground lease with Wawa, one of the most highly sought after single tenant net lease tenants. The 5,915 SF building sits on a 2.53-acre parcel near a high traffic, signalized hard corner intersection in the Bellevue community of greater Nashville, TN with exceptional visibility and access. The new 20-year absolute NNN lease includes fixed rental increases throughout the term and provides truly hands off ownership with no landlord obligations.
Wawa demonstrates robust financial strength and an aggressive growth trajectory, underpinning the security of this investment. In 2023, the company reported a significant 22% increase in revenue, reaching $18.23 billion, and was recognized by Forbes as one of the largest private companies in the U.S. Further solidifying its market position, Wawa has unveiled plans for its most ambitious expansion in company history, with objectives to open as many as 700 new locations over the next five years, aiming for a total of 1,800 stores by 2030.
Investment highlights
Brand New 20-Year lease with Wawa
Corporate guaranty from Wawa, Inc. – Investment grade credit with a Fitch rating of ‘BBB’
Absolute NNN ground lease – No landlord management obligations
Fixed 5% rental increases every 5 years (starting in year 11) and including options
Situated on last available retail pad site across from Publix Supermarket at Harperth Village
Positioned on U.S. Highway 100 - a primary retail and commuter thoroughfare serving Bellevue/Belle Meade with over 23,370±VPD
Large 2.53-acre parcel with 68 parking spaces
No debt to assume
Tennessee has NO STATE INCOME TAX
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