105 Reeceville Rd
Coatesville, PA 19320

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer a brand new, ground leased Wawa opportunity in Caln Township, Pennsylvania. The Tenant, Wawa, Inc., is subject to a new 20-year NNN ground lease with 10 percent rental increases every five years. The site is under construction and rent is set to commence in March 2018, if not earlier by virtue of the store’s opening. In terms of credit, Wawa was recently rated by Fitch as “BBB”, or investment grade, and operates over 600 locations in the Mid-Atlantic and Florida. The Subject Property consists of 2.59-acres at the Reeceville Road interchange off the Route 30 Bypass. The Bypass averages more than 61,300 vehicles per day with an additional 14,000 along Reeceville Road. The Bypass is a main artery to the Philadelphia Suburb, more specifically the King of Prussia/Plymouth Meeting area. This interchange provides the commuter traffic that allows a Wawa site to thrive. The site is positioned and connected by easement to CVS pharmacy (a preferred co-tenant of Wawa’s) and Brandywine Hospital, a 169-bed general medical and surgical hospital. The hospital is a 24-hour use that served more than 26,330 Emergency Room patients, 6,319 admissions and a combined 4500 in-and-outpatient surgeries last year. This is a customer base that does not appear on the demographics reported in the 1, 3, and 5-mile population. Additionally, much of the land northwards of the interchange is owned by Brandywine Hospital which creates inherent barriers to competing commercial development. The Tenant is located across Reeceville Road from three area schools, Reeceville Elementary, North Brandywine Middle School and Friendship Elementary School. Further, Wawa is within one-half-mile of the Brandywine YMCA, a 35,759-square-foot community center, and eight-tenths-of-a-mile from the Veterans Affairs Medical Center, a 118-bed hospital and accredited rehabilitation facility. These drivers will provide a variety of customer traffic which is what will generate the optimum sales performance for a Wawa location. Caln Township is a growing submarket of Chester County, Pennsylvania, the highest-income county and one of the fastest growing in the state. Situated 40 miles west of Philadelphia, the area has experienced 25% population growth since 2000 and population is expected to increase another five percent over the next five years. Immediate Average Household Income levels are strong with $103,480 within one-mile, $89,137 and $96,119 within three and five-miles.