607 Somerset St
Somerset, NJ 08873
Wawa · Retail Property For Sale

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE THIS WAWA PROPERTY located at the signalized corner of Somerset Street and Juliet Ave in Franklin, New Jersey. This is a new 20 year NNN ground lease in Wawa’s newest prototype with zero landlord responsibilities or expenses. There are 19 years remaining in the initial lease term with six, five year options to renew the lease. There are attractive 10% rental increases every 5 years throughout the base term of the lease and in each option period. The lease is corporately guaranteed by Wawa, a private company with over 750 locations and rated BBB by Fitch. This 5,500 new construction Wawa is ideally located on a 1.72 acre parcel at the signalized corner on Somerset Avenue with excellent access and visibility for over 24,000 vehicles passing by daily. This is an extremely densely populated area with 29,000 people within 1 mile, 141,258 people within 3 miles and 257,906 people within 5 miles. Major draws to this area within 2 miles of Wawa include the Rutgers-New Brunswick campus, Robert Wood Johnson University Hospital, and the Johnson & Johnson World Headquarters. Nearby major retailers include ALDI, McDonald’s, Advance Auto Parts, and Dunkin Donuts. Franklin Township is a fast growing suburb located within Somerset County, New Jersey, just 33 miles from Newark. This location benefits from highly sought after NYC MSA real estate located just 28 miles from Downtown Manhattan. This NNN lease coupled rental increases, a strong location, minimal competition and dense demographics makes this a passive and ideal investment for the astute investor.