Lake City, 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
• Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s largest private companies
• 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)
• Large 4.93-acre parcel

• Located at the signalized, hard corner intersection of W. US Hwy 90 and NW Ridgewood Ave
• US Hwy 90 is a main retail and commuter thoroughfare serving Lake City, which will provide consistent traffic flow to the site
• 2 miles East off I-75 (53,000 VPD), allowing users to benefit from on/off ramp access to the site and surrounding trade areas
• Just East of the Publix-anchored Lake City Commons, which ranks in
the 79th percentile (2,474 out of 12,111) of all nationwide neighborhood centers via Placer.ai
• The nearby Walmart ranks in the 95th percentile (161 out of 3,885) of all nationwide locations via Placer.ai

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