September 12, 2022 – Steve Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of a Wawa in Fredericksburg, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $5,400,000.
Wawa is located at 1140 Carl D Silver Parkway in Fredericksburg, Virginia. Wawa has been operating at the property since 1998 and just extended their lease for an additional 15-years, demonstrating their commitment to the site and the market. Wawa currently has 15+ years remaining on their Absolute NNN Ground Lease with four (4), 5-year renewal options. The lease also calls for a 7.5% rental increase in 2032 and at the start of each renewal option. The property is positioned with excellent access and visibility along Carl D. Silver Parkway (8,600 VPD), just feet from its
signalized intersection with Plank Road (87,000 VPD) and a half-mile west of the on-ramp to Interstate 95 (122,000 VPD).
Wawa is immediately adjacent to Dollar Tree, Chipotle, Patient First Urgent Care, and Shane’s Rib Shack and is located within the highly recognized, master-planned retail complex known as Central Park. Central Park is the largest power center on the East Coast with a GLA of 2.5 million square feet.
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.