THE DOUGHERTY TEAM ARRANGES THE SALE OF A 6,247-SQUARE-FOOT NET-LEASED WAWA

Brookhaven, PA, January 2nd, 2022 – 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 Wawa, a 6,247-square-foot Net-Leased property located in Brookhaven, PA, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $5,200,000.

Derrick Dougherty and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the representation of the buyer in the transaction. “Our team represented the buyer in this transaction, who was in a 1031 exchange and a repeat client of ours. Regardless of the market conditions, the seller and buyer prevailed with complete professionalism and dedication to the completion of this transaction,” said Scott Woodard

“Wawa continues to be the blue-chip net leased investment of choice for 1031 capital in the marketplace looking for a passive investment and quality real estate,” said Derrick Dougherty. Wawa was ranked #29 by Forbes as one of “America’s Largest Private Companies” in 2021 with an annual revenue of over $11 Billion.

“This property has stable financials and an attractive lease structure in the heart of a blue-collar Philadelphia submarket. The tenant recently signed a brand new 20-year lease with increases every 5 years,” said Scott Woodard. This property is strategically located six miles from Wawa headquarters and centered in the middle of the highly dense Delaware County.

_____________________________________________________________________________________________

About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading 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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.