Estero, 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 1,100+ 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

• The asset is located at the signalized, hard corner intersection of Corkscrew Rd and Estero Town Commons Place averaging 40,500 VPD
• Outparcel to Estero Commons, a Lowe’s-anchored community shopping center
• Next to Miromar Outlets, which ranks in the 94th percentile (2,237 out of 40,063) of all shopping centers nationwide via Placer.ai
• Directly off Interstate 75 (126,500 VPD), allowing users to benefit from on/off ramp access to the site and surrounding trade areas
• Estero, Florida, is experiencing significant growth with several new developments underway:
• Woodfield Mixed-Use Development: Approved in November 2024, this project spans 46 acres at the northwest corner of Tamiami Trail and Coconut Road. Phase 1 includes 296 residential units, 21,000 square feet of retail space, 14,000 square feet of dining, a dog park, splash pad, large open green, and an amphitheater. Future phases plan for additional commercial space and a hotel
• Alico Lakes Village: This 31-acre mixed-use development near I-75 and Alico Road features retail, commercial, and hospitality spaces. Notable tenants include Ashley Furniture and City Furniture, with zoning approved for up to 310,000 square feet of retail space