In 2023, Wawa opened the doors of its 1,000th location right here in Camden County. Now, that net-leased property has a new owner.

Marcus & Millichap announced the $6.25 million sale May 13. The nearly 2-acre site is located at 1006 White Horse Pike in Oaklyn.

Last year’s opening marked another milestone for convenience store and gas station Wawa. The 5,051-square-foot store introduced a new 2023 prototype, Marcus & Millichap said. It also features six fueling stations.

The Oaklyn store was an upgrade and relocation of a non-gas legacy location, previously just two blocks west of the current spot.

According to Marcus & Millichap, the transaction was a local affair. Senior Vice President Investments Derrick Dougherty, First Vice President Investments Mark Krantz and Scott Woodard and Associate Colin Reder, a team of invest specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing. The group represented the sellers, area convenience store developers, and procured the buyer, a local hotel and retail investor. First Vice President and Division Manager John Horowitz, broker of record in New Jersey, assisted in closing.

“This sale truly showed an amazing example of collaboration between all parties involved,” Dougherty said. “We extend our sincere appreciation to TD Bank for their instrumental role in making this closing a success.”

Strategic shift

“With a focus on streamlining our client’s portfolio, we strategically shifted their investment from a management-intensive asset to a more passive investment, aligning with their goal for long-term stability and growth,” commented Woodard. “Wawa is recognized as an industry leader and has solidified its reputation in this submarket, proven by their extensive growth over the past few years and recent relocation from their nearby legacy store to this current site.”

Located about 8 miles outside Philly, the White Horse Pike-based Wawa sees more than 18,000 vehicles per day pass by.

Last week, Marcus & Millichap announced another transaction inclusive of a c-store tenant when the Saddle Brook office announced the $7 million sale of a retail strip featuring a QuickChek location.