Freehold Township, NJ - Wawa

Description:

SRS Real Estate Partners is pleased to present the opportunity to acquire the leased fee interest in a brand-new, absolute NNN ground leased Wawa property located in Freehold, New Jersey. The tenant, Wawa, Inc., a nationally recognized fuel and convenience store operator, recently signed a new 20-year ground lease backed by a corporate guaranty. The lease includes six (6) 5-year renewal options and features 10% rent increases every five years during both the base term and renewal periods, providing stable, long-term income growth and a hedge against inflation.The lease is backed by Wawa, a Fitch shadow-rated BBB tenant and one of the most prominent privately held companies in the U.S., ranked as the largest in Pennsylvania and the 22nd largest nationwide by Forbes (2022). The rent at this location is below market compared to similar Wawa sites in affluent trade areas, creating potential upside at renewal and enhancing long-term value. With an anticipated store opening in October 2025, the newly constructed property will operate under a true absolute NNN ground lease. The tenant is responsible for all taxes, insurance, and maintenance, offering investors a passive, management-free ownership experience.

The site benefits from excellent visibility at the high-traffic, signalized intersection of Monmouth Road (18,100+ VPD) and Siloam Road (6,500+ VPD), with strong local demographics including 764,000+ residents and 267,000+ employees within 15 miles and an average household income exceeding $182,000 in the 5-mile radius. Directly across the street, a top-performing QuickChek ranks in the 87th percentile nationally and draws over 843,000 annual visitors, highlighting the strength of consumer demand in this corridor. Additionally, a 155-home residential development is planned just across Siloam Road, further expanding the immediate consumer base and reinforcing long-term demand for essential retail. This offering represents a rare opportunity to acquire a brand-new Wawa in an affluent, high-growth New Jersey market with below-market rent, strong demographics, zero landlord responsibilities, and secure income from a nationally recognized tenant.