Search
 

Wawa Inks 20-Year Lease for New Unit

BETHLEHEM, PA-The convenience store chain pays approximately $4.1 million to lease a 1.8-acre parcel being developed to contain a 4,000-sf store and gas station.

By Marita Thomas | Updated on December 28, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

BETHLEHEM, PA-Wawa Inc., the convenience store chain that takes its name from its headquarters city in Pennsylvania, has signed a 20-year lease for a 1.8-acre property at the intersection of E. Broad Street and Stefko Boulevard. Construction of a 4,000-sf Wawa store and gas station is under way by the owner and developer, identified only as Broad & Stefko LLC. The lease has an aggregate value of slightly more than $4.1 million.

Costas Hrousis of the Allentown office of Sperry Van Ness represented the owner, and Wawa spoke for itself. Hrousis says the property is located “on a corridor that has been designated the gateway to the City of Bethlehem.” It is also across from a 120-unit retirement community and near the planned Sands Bethworks casino on the former Bethlehem Steel site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.