413 Lancaster Ave
Reading, PA 19611
Wawa New Construction · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer a brand new, ground leased Wawa opportunity in Reading, Pennsylvania. The Tenant, Wawa, Inc., is subject to a new 20-year NNN ground lease in a high barrier, Reading submarket. The lease features 10% 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 Tenant is well-located along Lancaster Ave (BUS 222), the main artery through the city of Reading, Pennsylvania in a dense infill area. Wawa selected this site due to it’s unique location and being one of the only remaining large sites available for development. It is also strategically located along the retail corridor surrounded by residential developments and .5 miles from the area’s luxury auto retailers. Greater Reading is a leader in manufacturing with over 500 manufacturers located in the area, most notable of which are Baldwin Hardware, Carpenter Technology Corporation, East Penn Manufacturing Company, Quadrant Engineering Plastic Products and Yuasa. It is also the headquarters for Sovereign Bank, Boscov's Department Stores (two miles from the site) and Penske Truck Leasing, as well as the birthplace of two leading medical device companies: Teleflex Medical and Angiotech. Major employers in the area include Reading Hospital and Medical Center, the largest health care provider in Pennsylvania between Philadelphia and Pittsburgh. The Reading Hospital and Medical Center also ranks among Pennsylvania's top four hospitals.