Wawa | Affluent Indianapolis Suburb

Investment Highlights

INVESTMENT GRADE (FITCH: BBB) NATIONAL CONVENIENCE STORE TENANT WITH 1,105 LOCATIONS
• Wawa has 1,105 stores in 10 states with plans to reach 1,800 stores by 2030.
• The company has plans to build a total of 10 Indiana stores in 2025 and aims to add 8-10 stores per year until reaching about 60 stores in the state.
• Wawa has plans to open 160 stores across Indiana, Ohio, and Kentucky over the next five to eight years.
• According to Forbes, Wawa ranked as #22 of America’s Largest Private Companies in 2024 and #16 on its Customer Experience All-Stars List in 2024.
• Wawa generated $18.8 Billion in revenue in 2024 which is an increase of nearly $8 Billion from its revenue in 2021.
• Wawa was founded in 1964, has 42,000 employees and is headquartered in Wawa, PA.

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, common area, taxes, insurance, and utilities and maintains all aspects of the premises.
• The subject property is under construction and rent is scheduled to commenced in May 2025.

5 MILE POPULATION: 123,935 WITH 12.08% GROWTH & AVG HHIs OF $154,765
• The 5-mile population is 123,935 with 12.08% growth and an average household income of $154,765, making it one of the most affluent is rapidly expanding areas in the Indianapolis MSA.

NOBLESVILLE, IN | FASTEST GROWING COUNTY IN THE STATE
• Noblesville is an affluent and growing suburb located 30 miles north of downtown Indianapolis.
• Hamilton County is Indiana’s fastest-growing and most affluent county in the state and is known for its strong schools and vibrant community leading to multiple new developments in Noblesville.
• Highway 32 is experiencing significant development, including a new Meijers grocery store and the new Noblesville Station Shopping Center, anchored by a Kroger Marketplace, which opened in late 2023.
• Morse Village, a 175-acre new development featuring 400 residential homes, 250 Multi-family homes, and 30,000 SF of commercial, is expected to begin spring of 2025. This property is located less than 5 miles from this site.

POSITIONED AT ENTRANCE TO $72M 34 AC MIXED USE DEVLEOPMENT
• This Wawa is strategically positioned at the entrance to the Midland Pointe development off the signalized intersection of Highway 32 and Hazel Dell Rd (Combined 34,452 VPD).
• Midland Point is a $72 million 34-acre community featuring over 200 luxury apartments and more than 40,000 square feet of retail space.
• Midland Pointe is poised to transform Noblesville’s western entrance by blending commercial, residential, and recreational elements, thereby enriching the local community and economy.