A newly constructed Wawa convenience store and gas station located along Route 35 in Hazlet is available.

Colliers announced May 2 it was retained to sell the 5,585-square-foot property located in a high-traffic retail corridor at 3008 Route 35 in Monmouth County.

The c-store is also adjacent to the newly redeveloped Hazlet Town Center. With eight fueling stations, the property is under a 20-year triple-net lease.

Colliers put the daily vehicle count passing the site along Route 35 at 42,000. The area boasts other national retailers, too, such as Costco, ShopRite and Starbucks. The professional services and investment management company underscored the appeal those neighboring tenants provide for investors.

Last month, Onyx Equities LLC sold the Aldi- and Burlington-anchored Hazlet Town Center for $44 million. In its May announcement, Colliers said it represented the seller in that 1031-exchange.

Woodbridge-based Onyx also owns the Wawa property.

Opportunity awaits

Colliers Vice Chair Jacklene Chesler leads the marketing team representing Onyx Equities along with Managing Director Andrew Jacobs, Vice President Patrick Norris and Director, Senior Financial Analyst Philippe Jomphe.

Colliers described the property as a stand-out, particularly amid intensifying competition for premium, low-maintenance retail assets.

“This is a rare opportunity for a buyer to acquire a prime retail asset in a highly trafficked suburban corridor,” Chesler said. “With strong investor demand for well-located net-leased assets, Wawa’s established brand adds significant value to this property.”

Net Lease Advisor characterizes Wawa c-stores as “one of the hottest sought after triple net lease investments in the market today.” In particular, the write up noted Wawa’s real estate team works with specific site selection criteria, focusing on key trade area location characteristics.

“We are excited to continue our relationship with Colliers after the successful sale of Hazlet Town Center,” commented Jonathan Davis, senior vice president, Investment Group at Onyx Equities. “Colliers’ success in securing a buyer for Hazlet Town Center has given us confidence in their ability to bring this Wawa property to market and find the right buyer for this highly desirable asset.”