Marcus & Millichap Brokers Sale Of Wawa Property In Oaklyn For $6.25M

The net-leased Wawa property in Oaklyn, New Jersey, was recently sold for $6,250,000. The property stands on 1.92 acres of land and spans 5,051 square feet. Located at 1006 White Horse Pike, this retail asset achieved a price per square foot of $1,237 in the transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,250,000
• Address: 1006 White Horse Pike
• Market: Oaklyn
• Square Footage: 5,051
• Brokers: Colin Reder, Derrick Dougherty, Mark Krantz & Scott Woodard - Marcus & Millichap

The sale of this Wawa property was facilitated by the team from Marcus & Millichap’s Philadelphia office, including Derrick Dougherty, Mark Krantz, Scott Woodard, and Colin Reder. The transaction involved local convenience store developers as sellers and a local hotel and retail investor as buyers. This strategic investment shift was guided by the client's aim for long-term stability and growth, leveraging Wawa's established reputation and growth in the submarket. John Horowitz, the Broker of Record in New Jersey, provided assistance in finalizing the deal, marking a significant milestone in Wawa's expansion as its 1,000th store upon opening in March 2023.