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SRS National Net Lease Group Completes Sale of Two South Florida Wawa Convenience Stores

SRS Real Estate Partners’ National Net Lease Group (NNLG) recently finalized the sale of two South Florida Wawa convenience stores and gas stations, including an under-construction Wawa at 7878 NW 103rd St. in Hialeah Gardens and a newly-built Wawa at 6191 N. Powerline Rd. in Fort Lauderdale.

SRS NNLG Executive Vice President and Florida Market Leader Patrick Nutt represented the seller in both transactions. Ferber Co sold the 6.119-square-foot Hialeah Gardens Wawa for $11.575 million to the buyer HialeahWW, LLC. Brightwork Real Estate sold the 5,991 square-foot Fort Lauderdale Wawa location for $10.75 million to the buyer Powerline Wawa LLC. 

Nutt has specialized in handling Wawa sales across the country and these latest deals mark a total of 17 Wawas already sold in 2021 by Nutt. Wawa, Inc. is a privately-held company that began in 1803 as an iron foundry in New Jersey. A chain of more than 900 convenience retail stores with more than 35,000 associates, Wawa stores are located in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida and Washington DC.

“Both of these sales represent generational real estate for their new owners,” Nutt says. “They are dense, in-fill locations with tremendous traffic counts immediately proximate to interstates and other factors driving customer traffic. Wawa’s willingness to pay their highest rent ever in Florida is proof of how well they expect to perform in Hialeah Gardens.”

The Fort Lauderdale location includes a new 20-year term lease. The 2.57-acre site is at the intersection of Powerline Rd. and W. Cypress Creek Rd., averaging a combined 100,000 vehicles passing by daily. This Wawa features 10 pumping stations. The Hialeah Gardens location sits on 1.52 acres at the hard corner intersection of NW 103rd St. and NW 79th St. averaging over 60,000 vehicles per day.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.