Alachua, FL - Wawa

Description:

• The lease is signed by Wawa Florida, LLC, owned by Wawa, Inc., an investment grade (Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,080+ locations
• Brand new 20-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The ground lease features 7% rental increases every 5 years and at the beginning of each option period

• Wawa is strategically located at the signalized, hard corner intersection of M.L. King Blvd and NW 173rd St averaging a combined 39,500 VPD
• Part of Santa Fe Crossings, a new retail development currently under construction
• Santa Fe Crossings will feature 6 pads in Phase 1 and an additional 3.52-acres planned for Phase II
• There are several new residential developments underway off the M.L. King Blvd corridor, providing long-term viability in the underlying real estate
• Adjacent to Briarwood Phases 1-4 (429-single family lots)
• Off I-75, allowing users to benefit from on/off ramp access to the site and surrounding trade areas
• In July 2024, Alachua city officials approved a brand new 200-acre single-family housing development that will bring more than 500 single-family homes north of US 441 and south of the Dogwood Acres neighborhood. It also includes nearly 50 acres for recreational amenities such as a pool, dog park, and sport courts (more HERE)
• Ideally positioned across from Santa Fe High School (1000+ students), providing a consistent consumer base from which to draw