Wawa | Mobile MSA (Coastal AL)

Investment Highlights

20 YEAR ABSOLUTE NNN GROUND LEASE WITH RENTAL INCREASES
• Brand new 20 year ground lease corporately guaranteed by Wawa Inc.
• 5% rent increases every 5 years beginning in year 11 and in each of the six – 5 year options.
• Absolute NNN ground lease with 100% no landlord responsibilities.
• Tenant pays for roof, structure, parking lot, taxes, insurance, and utilities and maintains all aspects of the premises.
• The subject property is currently under construction and is scheduled to open in August 2024.

NATIONAL CONVENIENCE STORE TENANT WITH 1,058 LOCATIONS
• Wawa has 1,058 stores in 8 states with plans to reach 1,800 stores by 2030.
• Wawa generated $18.9B in revenue in 2023 which is an increase of nearly $8B from its revenue in 2021.
• Wawa was founded in 1964, has 42,000 employees and is headquartered in Wawa, PA.

LOCATED ON HWY 59 (24,910 VPD) | GATEWAY TO THE GULF COAST
• The subject property is located at the signalized intersection of Highway 59 (24,910 VPD) and Highway 48 (2,034 VPD). Highway 59 provides direct access to the Gulf Coast.
• This Wawa is also near Interstate 10 (55,833 VPD) and will benefit from visitors commuting to the Gulf Coast. Interstate 10 connects Mobile and North Florida to Coastal Alabama.
• The AL Gulf Coast is home to multiple popular beaches including Orange Beach which attracts over 8 million tourists annually spending over $7 Billion.
• Baldwin County is the fastest growing county in Alabama. The Gulf Shores population alone is expected to grow 27.1% from 2020 to 2025.

DIRECTLY ACROSS FROM A WALMART SUPERCENTER & NEW DEVELOPMENT PROJECTS
• This Wawa is directly across the street from a Walmart Supercenter that attracts over 2 million customers each year.
• There are three newly constructed Walmart outparcels including Zaxby’s, T-Mobile, a Car Wash, and an Immediate Care.
• Additional new development next to this Wawa includes a Taco Bell, Mavis Tire, and a 97 home subdivision that is currently under construction on the 40 acres behind Walmart.
• Other national retailers in Robertsdale include Tractor Supply, Walgreens, AutoZone, Express Oil Change and more.

GROWING COASTAL AL MARKET IN THE MOBILE MSA 2ND MOST POPULOUS CITY IN AL
• Robertsdale is located 30 minutes southeast of downtown Mobile and 10 minutes north of Foley, AL.
• The 5 mile population growth is 7.81% and the average household income is $77,764
• Foley is a growing town with multiple new retail developments including Publix, Firestone, Chipotle, and more.
• Mobile is the 2nd most populous city in AL with over 205,000 residents.
• The Port of Mobile is the 12th largest port in the US, handling an excess of 55 million tons of cargo annually and generates 313,000 jobs per year.
• Mobile Aeroplex at Brookley is the largest industrial transportation complex in the region with approximately 70 companies and 3,600 employees.