Wilson, NC - Wawa (Forest Hills Rd)

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 10% rental increases every 5 years 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 largest private companies

- The subject property is located near Westwood Shopping Mall, a Walmart Supercenter anchored center that also features national tenants including Tractor Supply Co., Dollar Tree, Staples, Chipotle, Applebeeâ€s, Jersey Mikeâ€s, and more
- Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
- The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers
- Wawa is strategically located at the signalized, hard corner intersection of Tarboro Street and Forest Hills Road, averaging a combined 60,425 vehicles passing by daily