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CBRE Arranges $12M Sale of Wawa, Tractor Supply Property in PA
CBRE has completed the $12.17 million sale of 1937 York Road in Jamison, Pennsylvania.
The 25,000-square-foot retail property at the intersection of York Road/Route 263, Meyer Way and Meeting House Road, occupied by a Wawa and Tractor Supply center, was acquired by ExchangeRight from ARCTRUST, a national development firm that owns more than 500 properties valued at more than $5 billion.
Matthew Gorman and Michael Shover, who lead the CBRE Net-Lease Property Group Mid-Atlantic Team, spearheaded the marketing campaign and represented the seller in the negotiations.
“The acquisition was an all-cash transaction with a very sophisticated institutional buyer who was on the hunt for a ‘high profile’ net lease property,” said Gorman. In addition to the retail property housing two investment-grade credit tenants with scheduled rental increases, the asset includes nearly12 acres of land for future development within a densely populated and affluent demographic submarket.
