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Wawa | 16+yrs Corp Abs NNN Grd Lse 7408 Tonnelle Ave 5,051 SF Retail Building North Bergen, NJ 07047 $13,946,637 CAD ($2,761.16 CAD/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 16+ Years Remaining | Corporate Guaranteed (Fitch: BBB) | Scheduled Rental Increases | Options to Extend
- Directly Next to Chick-Fil-A | Dense Retail Corridor |Across From Target & Lowe’s Anchored Center
- Absolute NNN Ground Lease | Land Ownership | No Landlord Responsibilities
- Signalized Hard Corner Intersection | Interstate 95 Excellent Visibility | Multiple Points of Access
EXECUTIVE SUMMARY
• 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
PROPERTY FACTS
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
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- Retailer
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99,999 SF
- -
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Lorem Ipsum
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Jan 0000
Wawa, Inc., a privately held company, began in 1803 as an iron foundry in New Jersey. Toward the end of the 19th Century, owner George Wood took an interest in dairy farming and the family began a small processing plant in Wawa, PA in 1902. The milk business was a huge success, due to its quality, cleanliness and “certified” process. As home delivery of milk declined in the early 1960s, Grahame Wood, George’s grandson, opened the first Wawa Food Market in 1964 as an outlet for dairy products. Today, Wawa is your all day, every day stop for freshly prepared foods, beverages, coffee, fuel services and surcharge-free ATMs. Wawa stores are located in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida and Washington, D.C. The stores offer a large fresh foodservice selection, including Wawa brands such as custom prepared hoagies, freshly-brewed coffee, hot breakfast sandwiches, specialty beverages and an assortment of soups, sides and snacks.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
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Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
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Wawa | 16+yrs Corp Abs NNN Grd Lse | 7408 Tonnelle Ave
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