MARCUS & MILLICHAP ARRANGES THE SALE OF A 6,049SF NET-LEASED WAWA

Portsmouth, VA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales has announced the sale of Wawa, a 6,049 SF net-leased property located in Portsmouth, VA. According to Sean Beuche, regional manager of the firm’s Philadelphia office, the asset sold for $5,382,978. Derrick Dougherty and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, exclusively represented the buyer.

Wawa is located at 720 London Street Portsmouth, VA 23704. This location strategically sits on a large 1.6-acre parcel positioned at the signaled intersection of London Street and Effingham Street. This intersection features average daily traffic counts of 33,000

vehicles and is just one-half-mile from the Interstate-264 interchange (84,000 VPD). Wawa, Inc. is a best-in-class tenant within the highly soughtafter convenience sector and a tier one retailer that is both online and recession resistant. Wawa operates over 800 locations in the Mid-Atlantic and Florida and reported more than $9.1 Billion in Annual Revenue.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.