372 Route 46, Mountain Lakes, NJ, 07046-1795, US

Wawa Mountain Lakes

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale a brand-new freestanding Wawa (the “Property”) located in Mountain Lakes, Morris County, New Jersey. Mountain Lakes is an affluent suburb of New York City (36 miles Northwest) composed of 53,000+ people within a 3-mile radius and well-above-average household income levels of $122,422. The new 20-year absolute NNN lease structure of this highly sought-after tenant offers zero landlord responsibilities and a steady, predictable cash flow.

The Property is new 2023 construction with a 20-year lease in place.

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Attributes

Building area Gross

519 m²

Occupancy

100.00%

Year built

2023

Media

Investment Highlights

Brand New 2023 Construction With In-Demand Tenant
- Newly constructed 5,585 SF freestanding Wawa prototype inclusive of gas pumps
- Highly sought-after tenant given Wawa’s dominance as a small format grocer and convenience store.
- Wawa ranked in the top 25 of Forbes’ list of America’s Largest Private Companies in 2022.

20-Year Lease With Double Digit Rental Increases
- New 20-year lease with double-digit rental increases provides a bondable cash flow and an effective hedge against inflation
- Absolute NNN Ground Lease structure results in minimal Landlord responsibilities and optimal income

Immediate Connection To Major Thoroughfares US Route 46 And Interstate 80
- 39,000+ VPD along Route 46
- 151,500+ VPD along I-80
- 30 miles Northwest of New York City

Excellent Demographics And Local Economic Drivers
- Situated in one of the most populous and affluent counties in the country with 53,000+ people and an average HHI of
- $122,422 within a 3-mile radius
- Located minutes from Mountain Lake's Corporate Center, as well as a 600+ unit senior living facility and a popular retail corridor