Triple Net-Lease Asset Sells In Miami For $9 Million

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Wawa, a 6,119-square foot net-leased property located in Miami, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $9,042,553.

Alan Lipsky and Barry M. Wolfe, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was secured and represented by Adam Friedlander, Glen D. Kunofsky, John J. Stewart and Russell Wachtler, investment specialists in Marcus & Millichap’s Manhattan office.

“The market for convenience store properties remains very strong.  This particular asset generated multiple offers.  We continue to receive strong offer activity for convenience stores we are marketing with this being the tenth Wawa property our team has sold in recent years and we have another scheduled to close in a few weeks.” says Wolfe.

Located on 167th Street and 6th Avenue, Wawa, is within close proximity to Interstate 95. Surrounding National Retailers Include Walmart Supercenter, Home Depot, Publix, Aldi, Rent-A-Center, Krispy Kreme, Taco Bell, McDonald’s, Popeyes, Dunkin’ Donuts, Starbucks, Bank of America, Chase Bank, Advance Auto Parts, Pep Boys, Walgreens, CVS, and many more.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: