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Submitted URL: https://5thstreetwawa.com/
Effective URL: https://platform.reverecre.com/project/2acd484e-db10-4fea-9e42-be8e40b5f85a
Submission: On November 15 via api from US — Scanned from DE

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Investment Highlights

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5th Street Wawa
Asset ClassRetail
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RARE, TROPHY GROUND LEASE OPPORTUNITY WITH HIGH BARRIERS TO ENTRY IN AFFLUENT
CHARLOTTESVILLE, VA


OVERVIEW

Cushman & Wakefield | Thalhimer is pleased to exclusively offer for sale a brand
new, corporately guaranteed 20-year ground lease opportunity in affluent
Charlottesville, Virginia. Wawa, Inc., is an investment-grade entity rated BBB
by Fitch and with over $18.9 billion in annual revenue, ranks as the 20th
largest privately held company according to Forbes. Operating over 1,000
locations along the East Coast, Wawa is the ninth largest convenience store
chain in the United States. The Property is prominently situated on ±1.83 acres
at the signalized hard corner of 5th Street SW and 5th Street Station Parkway,
approximately .5 miles from major regional connector, Interstate 64. The site
benefits from high visibility and accessibility at the entrance of 5th Street
Station, a 400,000 square foot dominant shopping destination anchored by the
MSA’s only Wegmans. Additionally, 24 hour operations and close proximity to
Interstate 64, (48,000 VPD) make the subject location and prime stop for
travelers seeking gas and other essentials - projected to be the strongest
performing in the region.

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INVESTMENT HIGHLIGHTS



 * Iconic, trophy Charlottesville location located immediately off interstate 64
   at the entrance to 5th Street Station – a 475,000 SF dominant regional retail
   destination anchored by the MSA’s only Wegman’s.
 * Exceptionally high barriers to entry in the already tight markets of
   Charlottesville and Albemarle County with virtually no comparable,
   developable by-right sites remaining coupled with challenging entitlement
   processes.
 * Convenient accessibility to UVA, Downtown\ Charlottesville and Interstate 64
   which spans Virginia and connects major North/South corridors, Interstates US
   81 and 95.
 * Brand new, 20-year corporate ground lease with attractive 10% escalations
   every five years in the intial term and option periods and zero landlord
   obligations.
 * Investment Grade Tenant Wawa, Inc., (Fitch: BBB) has over 1,000 locations
   nationwide and is ranked the 9th largest convenience chain the U.S. 2023
   annual gross $19B in annual revenues in 2023.
 * Dynamic Market with affluent demographics and unbeatable economic
   fundamentals boasting continuous YOY population and retail rent growth.

1150 5th St SWCharlottesville, VA 22902

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CONTACTS

INVESTMENT ADVISOR

Catharine SpanglerSenior Vice President(804)
344-7140catharine.spangler@thalhimer.com
FINANCIAL ANALYSIS

Mac UkropFinancial Analyst(804) 344-7171mac.ukrop@thalhimer.com

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