Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the brand-new construction Wawa located at the corner of 45th Street & North Military Trail in West Palm Beach, Florida ("Property" or "Asset"). The Property is situated on a large, 1.49-acre parcel that features 16 fuel pumps. Wawa will operate on a 20-year absolute NNN ground lease with 8.0% rent escalations every 5-years starting in the 11th lease year and continuing throughout all six, five-year renewal options.

...

Attributes

Asking price

THB 277,394,000

Cap rate

4.4%

NOI

THB 12,206,000

Remaining lease term

20 years

Year built

2026

Building area net

524 m²

Media

Investment Highlights

Corporate-backed lease to the 3rd largest private Convenience and Gas in the U.S.
20.0 Years of primary lease term
Absolute NNN ground lease with zero landlord responsibilities
230K Total Population within a 5-mile radius
Wawa ranks 22nd among U.S. private companies with $18.4B revenue in 2024
Nearby Cacti Sports Park, Thomas H. Corey VA Medical Center, & Rapids Water Park
$108K average household income within a 5-mile radius
Signalized intersection with direct visibility to 105,000+ VPD
Dense residential corridor with 3,376 apartment units in development within a 7-mile radius
93% increase in millionaires since 2013 & $39B in new wealth & income post-pandemic (across Palm Beach County)