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| WAWA Jacksonville, FL property site |
ORLANDO, FL – JLL Capital
Markets announced it has closed the $7.14 million sale of a
6,267-square-foot, single-tenant retail building ground leased to Wawa in
Jacksonville, Florida.
JLL marketed the property on behalf of the seller, Florida-based
CTO Realty Growth, Inc. A private investor purchased the asset.
Wawa, Inc., is a privately held company based in Wawa,
Pennsylvania, with a chain of more than 850 convenience retail stores, more
than 600 of which offers gasoline.
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| Brad Peterson |
The company employs over than 35,000 people
and operates its stores in Pennsylvania, New Jersey, Delaware, Maryland,
Virginia, Florida and Washington, D.C.
The Jacksonville property is housed on
2.16 acres at 4866 Gate Parkway at the entrance to St. Johns Town Center
regional retail node, which comprises 1.7 million square feet of retail space.
It sits at the signalized intersection of Town Center Parkway and Gate Parkway,
exposing the property to approximately 55,700 vehicles per day. Completed in
2017, the Wawa includes gasoline pumps and has over 17 years remaining on its
lease term.
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| Michael Brewster |
The JLL Capital Markets team that represented the seller was led
by Senior Managing Director Brad Peterson, Director Michael Brewster
and Analyst Joseph Naas.
“The St. Johns Town Center trade area is one of the most preferred
submarkets for retailers, businesses and residents in the southeastern United
States,” Brewster said.
“At the heart of it, Wawa serves customers from all
over North Florida, and the neighborhood, highway access and immense traffic
made this a special offering with irreplaceable intrinsic value.”
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
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| Joseph Naas |
The firm's in-depth
local market and global investor knowledge delivers the best-in-class solutions
for clients — whether investment advisory, debt placement, equity placement or
a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit
our newsroom.
CONTACT:
Kimberly
Steele, JLL Senior Associate, Public Relations
Phone: +1 713 852 3420
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