Wawa 1007 Baltimore St

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 Hanover, a borough located in the south-central region of the state of Pennsylvania. The new construction
Wawa is currently being developed with an estimated store opening in December of 2024. Wawa will operate on a NNN ground lease,
allowing for a hands-off passive form of ownership. The lease also features ten percent rental increases every five years, including in the
option periods. Wawa sits at the signalized intersection of Baltimore Street and Clover Lane, which boast a combined 21,000 VPD.
The population and number of households within the nearby area surrounding the property has seen consistent growth since 2020 and
is projected to continue growing through 2028. The growth is further seen in the demand for new residential developments. Major
home builder, Ryan Homes, recently developed the High Pointe Estates, consisting of over 100 single-family homes less than one mile
from the Wawa. Additionally, some of the retail along Baltimore Street (18,100 VPD) rank in the top of their respective chains, according
to Placer.ai. McDonald’s, along Baltimore Street (18,100 VPD), ranks in the top 96th percentile of their chain within Pennsylvania and the top 87th percent of their chain in the United States. Additionally, the adjacent Dunkin’ ranks in the top 79th percentile of Dunkin’ locations in the United States, signifying the strength of the retail within the corridor. 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 1,000 locations, Wawa is the largest private company in Pennsylvania and 20th largest in the nation according to Forbes (2023). Forbes reports that Wawa has revenues of approximately $18.9 billion in their most recent fiscal year (2023), which outranks its Pennsylvania rival convenience store, Sheetz.
- ABSOLUTE NNN GROUND LEASE WITH RENTAL INCREASES: Wawa operates on a NNN ground lease, allowing for a hands-off passive form of ownership. The lease also features ten percent rental increases every five years, including in the option periods.
-BRAND NEW CONSTRUCTION: The new construction Wawa is currently being developed with an estimated store opening in December of 2024.
-DOMINANT TENANT: 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 1,000 locations, Wawa is the largest private company in Pennsylvania and 20th largest in the nation according to Forbes (2023).
-BUSTLING RETAIL CORRIDOR: Baltimore Street (18,100 VPD) is home to several national retailers such as: Walmart Supercenter, GIANT, Planet Fitness, PNC Bank, Truist, Ollie’s Bargain Outlet, Advance Auto Parts, AutoZone, Mavis Discount Tires, Meineke, Dollar Tree, Dollar General, Verizon, McDonald’s, Starbucks, Dunkin’, Burger King, Arby’s, Subway, and Sheetz demonstrating the strength of the retail corridor.
-STRONG PLACER.AI PERFORMANCE OF NEARBY RETAILERS: McDonald’s, along Baltimore Street (18,100 VPD), ranks in the top 96th percentile of their chain within Pennsylvania and the top 87th percent of their chain in the United States. Additionally, the adjacent Dunkin’ ranks in the top 79th percentile of Dunkin’ locations in the United States, signifying the strength of small retail within the corridor.
-GROWING AREA WITH NEARBY DEVELOPMENTS: The population and number of households within the nearby area surrounding the property has seen consistent growth since 2020 and is projected to continue growing through 2028. The growth is further seen in the demand for new residential developments. Major home builder, Ryan Homes, recently developed the High Pointe Estates, consisting of over 100 single-family homes less than one mile from the Wawa.