*SOLD!* Wawa | Philadelphia MSA
2515 Delsea Drive, Franklinville, NJ 08322
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PROPERTY DETAILS
SOLD!
Building Size
3,905 SF
Lot Size
3.86 AC
Lease Type
Absolute NNN / Ground Lease
Initial Lease Term
20 Years
Property Overview
SOLD!
Investment Highlights
- This location is an upgrade of a legacy non-gas Wawa store, which operated on the same site for over 30 years, proving a strong market for Wawa
- Wawa has committed to the site for 20 years, starting a new lease in December 2022
- The lease features 10% rental increases every 5 years throughout the initial term and option periods
- Absolute NNN ground lease with Zero Landlord responsibilities
- Oversized site (3.86 AC) with frontage on two streets
- Corporate guaranty from Wawa (shadow rated BBB by Fitch)
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