Wawa
Baskersfield, CA
Wawa Inc. is a chain of convenience store/gas stations located along the East Coast of the United States. It operates in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, and Florida.The company’s corporate headquarters is located in the Wawa area of Chester Heights, Pennsylvaniain Greater Philadelphia. As of 2008, Wawa was the largest convenience store chain in Greater Philadelphia, and it is also the third-largest retailer of food in Greater Philadelphia, after ACME Markets and ShopRite.
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Typical Lease Characteristics
Lease Term: 10 – 20 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Positives:
- Typically Long term leases with increases
- Typically located in high traffic locations
Negatives:
- Currently Not Rated
- Typically high cost per square foot
- Future of Gas stations in question with the rise of electric cars
Market Snapshots:
On Market Ranges:
# of Properties in set: 4
Price: $5,489,000 - $6,715,270Average: $5,839,361
PPSF: $910 - $1190Average: $1015
Year Built: 2008 - 2018Average: 2014
CAP Rate Range: 4.50% - 5.26%Average: 4.74%
Size range: 4,854 sq ft - 6,119 sq ft Average: 5,672 sq ft
Last 12 Month Range:
# of Properties in set: 24
Price: $4,025,340 - $5,077,420Average: $4,574,249
PPSF: $729 - $927Average: $792
Year Built: 1980 - 2018Average: 2013
CAP Rate Range: 4.50% - 5.58%Average: 4.89%
Size range: 4,685 sq ft - 8,000 sq ft Average: 5,773 sq ft
Wawa Company Profile
Headquarters Information
Chester Heights, Pennsylvania
Founded in 1964
Company type: Private
Parent Company: Wild Goose Holding Co.
Industry: Convenience store Gas station Fast food
# of Employees: 22,500