A South Jersey Wawa entered a new 20-year agreement for its Voorhees location.
Following the acquisition of the site at 1702 S. Burnt Mill Road, Wawa entered a triple net ground lease for the retail spot, WCRE announced Aug. 4. Situated on 2.87 acres of land the property features a 5,585-square-foot store and four gas pumps.
WCRE represented Hammonton 1 LLC in its purchase of the property from Voorhees WHR Partners LLC. Financial terms of the deal were not disclosed.
According to the firm, whose South Jersey office is in Marlton, the sale adds to its growing number of completed investment and 1031 exchange transactions in the region.
The property is positioned at the signaled intersection of White Horse Road and South Burnt Mill Road, offering three points of access. It is a half mile from White Horse Pike/Route 30, which runs from the Benjamin Franklin Bridge in Camden County to Atlantic City, averaging about 36,000 vehicles per day.
According to WCRE, Wawa operates more than 800 locations in the Mid-Atlantic region and Florida and reported more than $9.1 billion in annual revenue. The location in Voorhees is one of four the convenience retailer’s website says will open soon in the Garden State.