Fort Lauderdale Wawa sells for $7M

The building is within Riverbend Marketplace

Jan.January 02, 2020 01:30 PM
Stuart Lazier and the Wawa in Fort Lauderdale

Stuart Lazier and the Wawa in Fort Lauderdale

Real estate investors are buying into Wawa’s subs and relatively reasonably priced gasoline.

Toronto-based Northbridge Investment Management sold a building leased to Wawa in Fort Lauderdale for $7.28 million. The buyer is Promociones 96 Inc, which is tied to Juan Petrizzo of Boca Raton.

The building at 2620 West Broward Boulevard is within Riverbend Marketplace.

The property totals 75,438 square feet, equating to a sale price of $96.50 per square foot, records show.

JLL’s Michael Brewster, Brad Peterson, Marc Mandel and Steve Schrenk represented the seller in the deal.

Northbridge Investment Management had bought the property as part of a larger purchase of the 103,452-square-foot Riverbend Marketplace shopping center for $38.5 million in June.

Northbridge owns a number of grocery-anchored retail centers, including the Kendall Pointe shopping center, anchored by Aldi at 16500 Southwest 88th Street in Miami.

Wawa is a chain of more than 800 convenience stores and gas stations in Pennsylvania, New Jersey, Delaware, Maryland, Virginia and Florida. The Wawa, Pennsylvania-based company is moving into South Florida at a rapid pace and said it expects to have more stores in Florida than in Pennsylvania or New Jersey.

In June, Banyan Development sold a Wawa location in Delray Beach for $6.84 million. In April, two principals of Coral Rock Development Group and a partner sold a property in Cutler Bay, where a Wawa is under construction, for $5.7 million.

Related Articles

Renderings of the penthouse and Fredrik Eklund (Credit: Four Seasons Private Residences Fort Lauderdale)

Fredrik Eklund tapped to list $35M PH in Fort Lauderdale

Alan Hooper and 516 Northwest 1st Avenue (Credit: Google Maps)

FATVillage developer buys missing piece for mixed-use project

Bridge Development Partners partner Southeast Region Kevin Carroll and 3233-3303 Southwest 12th Avenue Fort Lauderdale

Bridge Development sells Fort Lauderdale warehouses for $28M

2300 Aqua Vista Boulevard (Credit: Realtor)

Crane mogul drops $12M on waterfront Fort Lauderdale mansion

400 Northeast Third Avenue, Morgan Group CEO (Credit: Google Maps)

TA Realty drops $112M on apartments in Flagler Village

Matthew Rieger and a rendering of Village View

HTG scores financing for Fort Lauderdale senior affordable housing

Rendering of the project, Victor G. Harvey, Sr. and Flo Rida

Flo Rida is building a vodka distillery in Fort Lauderdale Opportunity Zone

John Sasso and 1020 Northeast 7th Avenue (Credit: Google Maps)

Fort Lauderdale apartment portfolio sells for $10M