MARCUS & MILLICHAP ARRANGES THE SALE OF A NEW 20 YEAR NNN GROUND LEASED WAWA

BORDENTOWN, NJ, October 6, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales has announced the sale of Wawa, a 5,585-square foot net-leased property located in Bordentown, NJ, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $7,075,000.

Derrick Dougherty and Mark Krantz, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “The sellers did an amazing job developing this site which is strategically located along Route 130. Bordentown has seen a resurgence over the years with residents looking to settle down in a small-town atmosphere that still offers a wide variety of specialty shops and fine restaurants or eateries.”, said Dougherty.

The state-of-the-art property was recently constructed and opened in December 2019 featuring a convenience store and gas station with 12 premium pumps. The lease is absolute triple net with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. “Wawa continues to be one of the most well respected privately held companies on the East Coast. This Wawa location opened in the Fall of 2019 and stayed open while paying full rent through COVID-19. The buyer was locally based, familiar with the submarket and understood the importance of adding a quality tenant like Wawa to his portfolio to ensure a predictable income stream for years to come.”, said Krantz.

Wawa is located at 237 US-130 in Bordentown, NJ. The property benefits from its strategic position in South Jersey only 25 miles away from Philadelphia and 5 miles southeast of the State Capital of New Jersey, Trenton. The submarket features stable demographics with a population of 79K+/- and average household income of $99K+/- within a 5-mile radius. Additionally, Wawa is nearby a strong retail presence including ALDI, Bank of America, 7-Eleven, PNC Bank, BP Gas, AT&T and Denny’s, further increasing consumer traffic to the site.

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.