Price: $12,105,263 | Cap Rate: 4.75%
Holliday Fenoglio Fowler, L.P. (“HFF”) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire two new construction single tenant NNN ground leases occupied by Wawa and WSFS Bank (the “Property”) located in Wilmington, DE. The Property offers a rare opportunity to acquire two NNN leases in one of the most sought after sub-markets in the Mid-Atlantic with no landlord responsibility. Wawa and WSFS have both executed new long term leases at the property with contractual increases every five years in the WSFS lease and approximately every five years in the Wawa lease after year ten of the primary term. Wawa, Inc. is a privately held company with a chain of more than 750 convenience retail stores and more than 27,000 employees located in Pennsylvania, New Jersey, Delaware, Maryland, Virginia and Florida. WSFS is the oldest and largest bank and trust company headquartered in the Delaware Valley and has 76 offices located in Delaware, Pennsylvania, Virginia and Nevada. While this is a brand-new location for WSFS, they currently hold over $284,000,000 in deposits in the 19803-zip code between two other branches in the area, which accounts for the highest deposits of any consumer bank in the area.