1095 Route 1 in Edison — Courtesy: Marcus & Millichap
By Joshua Burd
A new Wawa convenience store and gas station property in Edison has changed hands for more than $8.8 million, brokers with Marcus & Millichap announced Tuesday.
According to the listing team, the 5,585-square-foot retail space and adjacent fuel area occupy roughly three acres at the intersection of Route 1 and Interstate 287. That location drew strong interest from investors, the brokers said, as did the property’s 20-year absolute net ground lease with Wawa Inc.
Marcus & Millichap’s Alan Cafiero, Brent Hyldahl and Vincent Pennino represented the seller in the $8.823 million transaction at 1095 Route 1.
“We saw strong interest from private and 1031 buyers nationwide, which drove a very competitive bidding environment,” said Cafiero, a senior managing director for investments. “Wawa’s proven performance, combined with the site’s location in Edison, allowed us to deliver a best-in-class execution for our client at a strong price.”
Built in 2025, the property is at the entrance to the Edison Crossroads shopping center and near national retailers including Home Depot. With its highway location, tenants benefit from daily traffic of more than 95,000 vehicles on average.
