1300 Silvia St. in Ewing — Courtesy: Marcus & Millichap
By Joshua Burd
A private real estate investment trust has sold a newly built Wawa and gas station property in Mercer County, in a $5.5 million sale announced Tuesday by Marcus & Millichap.
In a news release, the firm said it represented the seller and procured the buyer of the property at 1300 Silvia St. in Ewing. Marcus identified the buyer as a 1031 exchange investor, touting a sale price that represents a capitalization rate below 5 percent.
Jason Petrick of Marcus & Millichap’s Net Leased Property Group handled the assignment.
“In 2017, Wawa was voted ‘Highest Brand Equity’ by Nielson’s for the gas / c-stores vertical,” Petrick said. “Institutional and private equity investors are aggressively competing for well positioned, best-in-class, assets to add to their portfolios on a national level.”
