Wawa Inc., entered a new 20-year term NNN ground lease after WCRE sold the property it occupies to Hammonton 1 LLC, according to a Monday announcement from the Cherry Hill-based brokerage.
Located at 1702 South Burnt Mill Road, the retail location is situated on an oversized 2.87-acre parcel, and features a 5,585-square-foot store with four gas pumps. The site is prominently positioned at the signaled intersection of White Horse Road and South Burnt Mill Road with three means of access. It is also located one-half-mile from White Horse Pike/Route 30, a predominantly four-lane highway that runs from the Benjamin Franklin Bridge in Camden County southeast to Atlantic County and averages 36,167 vehicles per day.Wawa is a best-in-class tenant within the highly sought-after convenience sector and a tier one retailer that is both online and recession resistant. It operates over 800 locations in the Mid-Atlantic and Florida and reported more than $9.1 Billion in Annual Revenue.Jason Wolf, Managing Principal at WCRE exclusively represented the Buyer in this transaction. The seller was Voorhees WHR Partners LLC.