Investment Highlights

NEW 20-YEAR ABSOLUTE NNN CORPORATE GROUND LEASE
» New 20-year absolute NNN ground lease with 10% rental increases every five years
» Long-term lease to Pennsylvania’s largest private company with $14.93B in revenue
» No landlord obligations, presenting an ideal no-management investment for an out-of-area investor
» Wawa increased revenue 36% in 2022 to claim a spot among the 25 largest private companies in the U.S.
» Wawa plans to launch its first stores in the states of Ohio, Indiana, and Kentucky. The new states are part of Wawa’s long-term expansion plan to fuel future store growth in adjacent and new markets
» Wawa plans to nearly double its store count by 2030 to approximately 1,800 locations

IDEAL C-STORE LOCATION WITH ACCESS TO 83,000 COMMUTERS DAILY AT SIGNALIZED INTERSECTION
» Prime location at entrance to Oceana Naval Air Station, which has 250 aircraft deployed, buildings valued at $800 million in plant replacement value, and approximately 10,500 military, 10,000 family members, and 4,500 civilian employees
» Virginia Beach is the most populous city in Virginia with more than 457,000 residents and attracts approximately 7.1 million overnight visitors annually
» The site services dense Downtown Virginia Beach neighborhoods along a primary north/south commuter thoroughfare, ensuring a consistent business stream
» 107,006 residents live within five miles of the property, providing a large customer base
» 36 single-family homes are currently under construction directly behind the site
» Excellent average annual household income of $119,263 within a three-mile radius
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Wawa and Virginia Beach for steady concurrent growth

NEW 2023 CONSTRUCTION BUILT TO LATEST PROTOTYPE
» New high-quality 2023 construction built to latest Wawa prototype
» Site features a stand-alone C-store, ample parking with 50 stalls, and eight gas pumps
» Located on large 5.5-acre parcel

Property Description

SOLD

» This Wawa has a high-visibility and easily accessible location at the signalized intersection of General Booth Boulevard and Oceana Boulevard (combined 83,000+ vehicles per day)
» The property is a trophy location three miles from Oceana Naval Air Station, which has 250 aircraft deployed, buildings valued at$800 million in plant replacement value, and approximately 10,500 military, 10,000 family members, and 4,500 civilian employees
» Ideally set in a large suburban corridor, the site services dense Downtown Virginia Beach neighborhoods along a primary north/south commuter thoroughfare, ensuring a consistent business stream
» The site greatly benefits from its location in Virginia Beach, the most populous city in Virginia with more than 457,000 residents and attracting approximately 7.1 million overnight visitors annually
» 107,006 residents live within a five-mile radius of the site with an excellent average annual household income of $119,263 within three miles of the site, providing an extremely large, affluent, and reliable customer base
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Wawa and Virginia Beach for steady concurrent growth