January 25, 2022 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of a Wawa in Warminster, Pennsylvania. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $5,725,000.
Wawa is located at 549 West Street Road in Warminster, Pennsylvania. The property was constructed for Wawa in 2013 and features a 4,789 square foot convenience store and six fuel stations (12 pumps) on 2.4 acres of land. Wawa has 11+ years remaining on their corporate ground lease (Absolute NNN) with six (6), 5-Year Options. The lease features 9% rent increases every five years throughout the primary term and at the start of each of the option periods. The Property is well located along West Street Road (PA Route 132), the primary commercial corridor running through the densely populated city of Warminster. The Property enjoys cross easements with two adjacent free-standing parcels, improved by a recently constructed CVS Pharmacy and a Police and Fire Federal Credit Union, further driving traffic to this busy location. Additionally, Wawa is 1-mile from the Warminster Train Station with service to Philadelphia. Warminster is an inner-ring suburb of Philadelphia, located 13-miles north of the 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.