1260 E Joppa Rd
Towson, MD 21286
Wawa | New 20 Year NNN GL! · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer a brand new, ground leased Wawa opportunity in Towson, Maryland. The Tenant, Wawa, Inc., is subject to a new 20-year NNN ground lease in a high barrier, affluent Baltimore submarket. The lease features rental increases every five years in the base term and six, five-year option periods. In terms of credit, Wawa was recently rated as “BBB” by Fitch, or investment grade, and operates over 600 locations in the Mid-Atlantic and Florida. The Wawa parcel is part of a new master planned mixed-use development named Loch Raven Commons in the densely populated east Towson trade area. The overall project is a 9.35-acre site consisting of 208 luxury apartment units, and two multi-tenant retail buildings of 9,000 square feet and 6,500 square feet in addition to Wawa. Wawa’s location is cross-eased with the two neighboring multi-tenant retail buildings and will benefit from natural retail synergies. The Property is strategically located at the signalized intersection of East Joppa Road and Lasalle Road, which averages 26,900 vehicles per day. Wawa occupies its prototypical 5,682-square-foot convenience store with 6 gas pumps, 12 stations situated upon 1.56 acres across from two Class “A” office parks, Maryland Executive Park and Joppa Place Corporate Center. The property is adjacent to a BB&T bank branch with $69M in deposits and in proximity to national retailers including Dollar Tree, Applebee’s, Qdoba, and Bob Evans. The tenant is also in proximity to Towson Place, a notable 681,643-sqaure-foot regional center which boasts a powerful line up of tenants including anchors Walmart, Target, Weis, and junior anchors TJ Maxx and Marshall’s. Towson is the county seat of Baltimore County, the third most-populous county in the state. Located eight miles from downtown Baltimore, Towson is an exceptionally dense submarket with more than 143,000 people within three miles and more than 330,000 within five miles of the subject property. Towson is home to two major universities, Towson University and Goucher College, with a combined total of 24,600 students and nearly 2,000 faculty. Both universities are within two-and-one-half-miles of the subject property.