Unknown Buyer Acquires Property In Ewing Township For $5.5 Million With Seller's Rep Jason Petrick

A newly constructed Wawa convenience store/gas station was sold at 1300 Silvia Street in Ewing Township, NJ, for a transaction amount of $5,500,000. The property does not have a specified square footage, and it is situated in a location approximately four miles northwest of Trenton. The capitalization rate for this sale is below 5 percent.

Summary of transation details:

• Property Type: Convenience Store/Gas Station
• Transaction Amount: $5,500,000.00
• Address: 1300 Silvia St, Ewing Township, NJ
• Seller's Representative: Jason Petrick - Marcus & Millichap
• Buyer: Unknown
• Seller: Private REIT

Jason Petrick of Marcus & Millichap played a pivotal role in representing the seller and successfully procured the buyer through a 1031 exchange. This transaction involved the sale of a property owned by a private Real Estate Investment Trust (REIT), emphasizing the active participation of Marcus & Millichap in the deal.