Wawa in New Jersey is selling for over $6.6 million

A convenience and gas franchise that has expanded significantly into North Jersey in recent years has sold one of its newest locations as a Wawa location in Passaic County changes hands.

Marcus & Millichap recently announced the sale of a net leased Wawa location in Wayne, New Jersey. The property sold to a Maryland-based private investor for $6,655,052 after being listed through the agent.

“This is a high-quality location in one of the strongest retail submarkets in northern New Jersey,” said Dean Zang, Executive Managing Director at Marcus & Millipchap. “Wawa is thriving here with strong traffic of 69,000 vehicles per day.”

Zang and David Crotts, investment specialists in Marcus & Millichap’s Washington DC office, marketed the property on behalf of the seller and procured the buyer. The two are aware of the transaction because it is the 71st Wawa sale that Zang and Crotts have facilitated in their brokerage careers.

Located along the main commercial corridor of Route 23, the Wayne Wawa was completed in 2023 and has a 20-year corporate ground lease. The property features a 4,736 square foot store and eight gas stations.

The 5.89-acre property offers high visibility and is approximately 20 miles from Manhattan. Wawa has had a strong presence in South Jersey, Delaware, Pennsylvania and Maryland for many years, but has expanded significantly into northern New Jersey in recent years.

The Wayne Wawa transaction comes just months after another newly constructed Wawa in the Ocean County town of Lakehurst sold for a similar amount of $6.5 million.