December 6, 2023 – Michael Talbert and Monique Maldonado of Horvath & Tremblay have successfully completed the sale of a Wawa in Tampa, Florida. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $4,392,500.
Wawa is located at 2313 E Fletcher Avenue in Tampa, Florida. Wawa has been at this Property since it was constructed in 2016 and has 12+ years remaining on their Absolute NNN ground lease with six (6), 5-year renewal options. The lease calls for attractive 8% rent increases every five years throughout the primary term and at the start of all six of the five-year renewal options. Wawa is extremely well located at the signalized intersection of Livingston Avenue and E Fletcher Avenue, one of the area’s primary commercial and commuter corridors. The Property has outstanding frontage and benefits from three points of access. Wawa is just seconds from both Advent Health Tampa and the James A Haley Veterans Hospital, two of the largest hospitals in the Tampa metropolitan area. Additionally, Wawa is positioned less than 1-mile from the University of South Florida, and 2.5-miles from Bush Gardens Tampa. Located on the north side of Tampa, the Property offers convenient access to Interstate 275, US Highway 41, and FL State Roads 93, 582, 580, and 678, and is surrounded by national retailers and businesses that drive traffic to the area. The Property is also surrounded by densely populated residential neighborhoods that provide a built-in customer base.
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.