Marcus & Millichap announced the sale of a new Wawa location, the 5,636-square-foot convenience store and gas station is under construction in Boynton Beach. According to Ryan Nee, senior vice president and division manager of the firm’s Fort Lauderdale office, the 2.88-acre asset sold for $9,500,000.
“This was the 10th Wawa our team has successfully sold in the past couple of years. We have been able to procure cash buyers in each instance,” said Barry M. Wolfe, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office. “This property is located in a fantastic location and is part of an amazing, newly constructed Mainstreet at Boynton shopping center development which is anchored by a 26,000-square-foot Sprouts Farmers Market and several other national tenants. It will be a true trophy asset for many years to come.”
Alan Lipsky, senior vice president investments, added that, “Many 1031 exchange buyers with whom we work are attracted to Wawa properties as they are a true market leader in the sector and offer a premier product to their customers. Buyers view Wawa as a safe and secure investment that should excel as a company, even as electric vehicle use grows.”
Barry Wolfe, Alan Lipsky, and Joseph Prio in Marcus & Millichap’s Fort Lauderdale office had the exclusive listing to market the property on behalf of the seller, a limited liability company. An out-of-state buyer purchased the property.
Wawa is located at 9910 S. Jog Rd., as an outparcel to Mainstreet at Boynton, a fully leased, mixed-use development. Mainstreet’s plans also include a 117,000-square-foot congregate living facility (CLF) that is under construction.
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