1512 Route 23 in Wayne — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has purchased the site of a new Wawa store and gas station in Wayne for nearly $6.7 million, according to a brokerage team with Marcus & Millichap.
Located at 1512 Route 23, the business opened in 2023 with a 20-year corporate ground lease, according to a news release. The 5.89-acre parcel includes a 4,736-square-foot store and eight fueling pumps, offering high visibility and frontage along one of the area’s main corridors.
Marcus & Millichap’s Dean Zang and David Crotts, investment specialists in the firm’s Washington D.C. office, represented the seller and procured the Maryland-based buyer. John Horowitz, broker of record in New Jersey, assisted in closing the $6.655 million transaction, which marks the 71st Wawa sale that Zang and Crotts have facilitated in their careers.
“This is a high-quality location in one of northern New Jersey’s strongest retail submarkets,” said Zang, an executive managing director for investments with Marcus. “Wawa thrives here with robust traffic counts of 69,000 vehicles per day.”