December 13, 2021 –Michael Lombardi of Horvath & Tremblay has successfully completed the sale of a Wawa in Edison, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $7,575,000.
Wawa is located at 580 US Route 1 in Edison, New Jersey. The new construction stand-alone convenience store and gas station opened in the summer of 2021. The Property consists of a 4,736 square foot building and a gas station and convenience store on 1.99 acres of land. Wawa has a new 20 year, corporately backed, ground lease (Absolute NNN) with six (6), 5-Year Options. The lease features 10% rent increases every five years beginning in year 11 of the lease and continuing throughout both the primary term and the option periods. The Property is set along a primary roadway in the densely populated residential city of Edison. The Property is strategically located at the intersection of US Route 1 and Stony Road, with convenient access from both roadways. Additionally, Wawa is less than 1.5-miles from the Edison Train Station with service to Manhattan’s Penn Station. Edison is 10-miles southwest of Staten Island, and just 30-miles from New York City.
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.