A new Wawa in Towson, Md., sold last month for $7.48 million, writes Melody Simmons for the Baltimore Business Journal.
“It was the highest-price-point Wawa we’ve sold in the region,” said Dean Zang, the senior managing director for Marcus & Millichap who has sold 25 Wawa stores out of his office in Washington, D.C. “It was a stellar real estate location.”
The buyer was an unnamed investor from New York, reportedly with ties to nearby Towson University. The seller was listed as the Buccini Pollin Group, a private investment firm.
The Wawa is an anchor in the new Loch Raven Commons, a mixed-use development. The site will eventually have 20,000 square feet of retail space and 209 apartments at the former office site for defense contractor Raytheon.
Today, Wawa has 750 stores in Maryland, Pennsylvania, New Jersey, Delaware, Virginia, and Florida and a workforce of 30,000. The Delaware County-based company is listed as 34th on the 2017 Forbes list of largest private companies in the U.S., and its revenues last year were $9.1 billion.
Read more about the new Wawa in Towson, Md., in the Baltimore Business Journal by clicking here.