Tallahassee, FL (Blair Sone) - 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 1,100+ 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 starting in lease year 11 and at the beginning of each option period
• 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)
• Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s Largers

• Located at the signalized, hard corner intersection of N Blair Stone Rd and Miccosukee Rd averaging a combined 34,400 VPD
• Just West of Capital Circle NE 52,800 VPD, a major Tallahassee retail and commuter thoroughfare that encompasses around the entire city and provides access to its suburbs
• The surrounding neighborhoods will provide a direct, steady consumer base from which to draw
• Across from several medical and government offices, providing additional consumer bases from which to draw
• Less than a mile North off Tennessee St, the main East/West retail and commuter thoroughfare serving to the city of Tallahassee
• The Publix-anchored Mahan Village, located just East of the subject site, is ranked in the 89th percentile (1,225 out of 11,342) of all nationwide neighborhood centers according to Placer.ai