5th Wawa Closing of 2024

CHESTER SPRINGS, Penn., Nov. 19, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased Wawa location in Chester Springs, Pennsylvania for $5,211,650.

Derrick Dougherty, Jacob Haslach, Colin Reder and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, large apartment and multi-family developers, and procured the buyer, a private investor. Timothy Stephenson is Marcus & Millichap’s broker of record for Pennsylvania.

“This sale marks our team’s 30th Wawa closing. Wawa’s have been a niche of our team since its inception, and we continue to have success in transacting in this asset class,” said Derrick Dougherty.

“It was truly a pleasure collaborating with all parties involved— from the seller and buyer to the lender, third-party consultants, and title company. Their collective efforts ensured the seamless completion of this transaction,” said Derrick Dougherty.

“This property stands as a centerpiece for the town center, serving as a key location within the community and adjacent to 300 acres of mixed-use development. Situated in Pennsylvania’s wealthiest county, which is projected to see a 28% population growth over the next two decades, it exemplifies the strength of this market,” said Derrick Dougherty or Jacob Haslach.

The 5,585-square-foot Wawa, located at 1150 Pottstown Pike, features three points of direct ingress and egress. Built in 2019, the property sits adjacent to the newly developed Weatherstone Town Center, a 300-acre mixed-use community. Wawa’s corporate headquarters is less than 25 miles from the site.

 

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.