Pensacola, FL - Wawa

Description:

• The lease is corporate 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

• Off the signalized, hard corner intersection of N Davis Hwy and E Johnson Ave averaging a combined 37,100 VPD
• Adjacent to HCA Florida West Hospital, providing a direct consumer base from which to draw
• Customer will benefit from multiple access points to the site along E. Johnson Ave and N. Davis Hwy
• This will be Wawa’s 4th location in Escambia County
• 1 mile North off I-10 (81,500 VPD), allowing for direct on/off ramp access to the site and surrounding trade areas
• Ferry Pass Plaza, located just South of the site, is anchored by Ross and ranks in the 80th percentile (3,681 out of 18,574) of all nationwide strip centers via Placer.ai
• Maritime Park Mixed-Use Development:
• The Dawson Company, in collaboration with The McGarey Group, is spearheading a transformative project at Maritime Park. This development will feature 200,000 square feet of retail space, including a food hall, restaurants, and retail stores. Additionally, it will offer multifamily residential units, a multipurpose outdoor plaza, and a state-of-the-art parking structure. A REVERB by Hard Rock hotel is also planned, with an anticipated opening in 2029