The undisclosed client sold a multifamily property off-market for $11 million, then purchased a Wawa under construction in Hialeah Gardens for $11.575 million. Further details were not disclosed.
Justin Lupo, senior vice president, and Jason Pucci, chief operating officer, handled the assignment for both parties in the New Jersey deal, and represented the purchaser in the Wawa transaction.
“These sales were excellent opportunities for our clients,” Pucci said in a prepared statement. “The seller of the New Jersey property exchanged a long-held, older apartment complex into a well-located … Wawa, which is a strong tenant, with zero landlord responsibilities.
“The purchaser of the New Jersey property added a value-add property to its growing portfolio of properties in the Northeast and mid-Atlantic.”