1115 S College Ave
Newark, DE 19713
Wawa · Commerce de détail Propriété À vendre

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Wawa, (the “Property”) in Newark,
Delaware, a city just 10 miles southwest of Wilmington and 35 miles southwest of Center City Philadelphia. Wawa operates on a brand-new 20-year triple-net (NNN) ground lease,
providing investors with a hands-free ownership structure. The Property is currently under construction and is expected to open in October 2026. The lease features attractive
10% rental increases every five years throughout the base term and option periods, creating predictable income growth over time. Wawa is strategically located just off Exit 1B
of Interstate 95, with traffic volumes exceeding 79,000 VPD. Positioned at one of the final Interstate 95 exits before Maryland, the Property benefits from exceptional accessibility
for both local commuters and long-distance travelers. This highly trafficked location drives consistent customer demand, enhances tenant sales performance, and reinforces the
Property’s long-term investment appeal. The Property is located less than two miles from the University of Delaware, a premier research university with an enrollment of more than
24,000 students and over 1,200 faculty members. The university serves as a significant year-round economic and population driver, generating consistent demand from students,
faculty, staff, and visitors.
The Property is positioned within a dense and affluent consumer base, featuring approximately 164,000 residents and 63,000 households within a 5-mile radius. Household
incomes significantly exceed national averages, with average household income of $121,000 within 1 mile, $106,000 within 3 miles, and $112,000 within 5 miles. These strong
demographics provide retailers with a large customer base and substantial discretionary spending power, supporting tenant sales and occupancy. The Property location of
Newark is contained within the Philadelphia MSA. The Philadelphia metropolitan area is home to more than 6.3 million residents, making it the 9th largest metropolitan area in
the United States.
Wawa is one of the dominant gas station and convenience store tenants in the northeast and is quickly gaining more traction throughout the country. With over 1,100 locations
and growing, Wawa is the largest private company in Pennsylvania and 21st largest in the nation according to Forbes (2025) with an investment grade credit rating of BBB (Fitch).