Trending
NJ firm pays $7M for the site of a Wawa in Riviera Beach
Wawa signed a 20-year lease in May 2015
New Jersey-based Vineland Construction Co. just dropped $6.9 million for the site of a Wawa convenience store in Riviera Beach, property records show.
The 6,119-square-foot store at 7289 Garden Road traded for about $1,130 per square foot. Records show an entity of the Ferber Co. bought the 2.5-acre property in 2015 for $3.5 million and began construction of the store a year later. The Ferber Co. is a private investment and development company based in Ponte Vedra Beach.
Pennsylvania-based Wawa signed a 20-year lease with the Ferber Co. in May 2015. The convenience store and gas station chain opened its Riviera Beach location in March.
Wawa stores are still new to South Florida, but are expanding quickly. The first Wawa convenience store in Miami-Dade County was announced in April. It’s set to open in August 2018 at the shopping center Gardens Promenade in Miami Gardens.
Wawa opened its first Florida store in 2012 and expanded to 100 stores by 2016, according to the Miami Herald. Its other locations include 6350 Stirling Road in Davie and on 3601 North Federal Highway in Pompano Beach.
Vineland Construction is a family-owned business based in Vineland, New Jersey. It develops industrial, retail and office properties throughout the eastern United States, and has a real estate portfolio of more than 2 million square feet, according to its website.