June 27, 2024 – Kyle Danielson and Austin Smith of Horvath & Tremblay have successfully completed the sale of a new construction Wawa in Georgetown, Delaware. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $4,900,000.
Wawa is located at 20938 Dupont Boulevard in Georgetown, Delaware. The new construction stand-alone convenience store and gas station was completed in 2023. Wawa has 19 years remaining on an Absolute NNN Ground Lease with six (6), 5-Year Options. The lease features attractive 10% rent increases every 5-years throughout the primary lease term and at the start of each of the six renewal option periods. The newly constructed Wawa is well positioned along Dupont Boulevard (U.S. Route 113), the area’s primary commercial and commuter corridor which sees more than 22,800 vehicles per day. Wawa enjoys outstanding visibility and frontage and has two points of entry and egress along two roads, allowing for excellent accessibility. The Property is 1-mile from the signalized intersection with Bridgeville Road (DE Route 404), which is home to numerous national retailers and restaurants including Walmart Supercenter, that drive traffic to the area. The Property is also within 1.5-miles of municipal offices, area schools and Wilmington University and Delaware Technical Community College. Georgetown is in southern Delaware, approximately 35-miles south of Dover and 80 miles south of Wilmington.
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.