July 22, 2021 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of a Wawa in Oakland Park, Florida. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $8,200,000.
Wawa is located at 1675 W Oakland Park Boulevard in Oakland Park, Florida. The stand-alone convenience store and gas station is under construction with an anticipated opening date in May 2022. The Property will consist of a 5,537 square foot building and a gas station with twenty (20) fueling stations on 2.42 acres of land. Wawa has a new 20 year, corporately backed, ground lease (Absolute NNN) with six (6), 5-Year Options. The lease features 8% rent increases every five years beginning in year 11 of the lease and continuing throughout both the primary term and the option periods. Wawa is strategically positioned along W Oakland Park Boulevard, with excellent visibility and access along a dense retail corridor with average traffic counts of more than 54,500 vehicles per day. The property is also located less 0.5-miles from Interstate 95. Wawa is a pad site to a high volume Home Depot, and is surrounded by other national retailers driving traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.