North Bergen, NJ - Wawa

Description:

• Over 16 years remaining on an original 20-year ground lease with 6 (5-year) options to extend, demonstrating the tenant’s long-term commitment to the site
• The ground lease features a rare 15.24% rental increase in lease year 11, a 10%increase in year 16 and 10% increases at the beginning of each option period
• 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
• Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s largest private companies

• The site is ideally located at the signalized, hard corner intersection of Tonnelle Ave, which averages over 35,000 vehicles passing by daily
• The subject property benefits from nearby direct on/off ramp access to Interstate 95, a major thoroughfare averaging over 72,000 vehicles per day
• The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers
• Population counts exceed 530,982 individuals in a 3-mile radius with more than 1M individuals in a 5-mile radius of the subject property
• Features an average household income of $156,773

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Listing ID: a28TP0000002di1YAA