Jacksonville, FL - Wawa

Description:

• The lease is guaranteed by Wawa Inc., an investment grade (Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,260 locations
• 17+ years remaining on the ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The ground lease features 5% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
• Large 3.01-acre parcel
• Wawa was ranked No. 21 in Forbes 2025 Ranking of America’s largest private companies
• The company is currently in the midst of its “largest expansion ever,” aiming to reach 1,800 stores by 2030

• The asset is strategically positioned at the signalized, hard corner intersection of Baymeadows Road (46,500 VPD) and Baymeadows Way
• Directly off Interstate 95 (135,500 VPD), providing direct on/off ramp access for travelers
• Baymeadows of Jacksonville is a fast growing submarket with new development along Baymeadows Road
• Baymeadows Way is a new, $85 million, 331-unit ground-up development opportunity in Jacksonville
• Wawa merchandise sales per store averaged $7.1M for the year ended 2024 versus an industry average of $2.7M for 2023 (Source: NACS)
• Gasoline sales totaled 3.1 billion gallons for the year 2024, an average of 69,042 gallons sold a week per store, over two times the industry average of 32,726 per store per week in 2023 (Source: NACS)

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