Wawa NNN Properties for Sale
Are you looking to buy or sell a Wawa Ground Lease Property, or NNN Lease Wawa Property for passive investment? If you would like to buy or sell Net Lease Wawa, please feel free to send us an email to info@nnndeals.com and we will get back to you quickly.
 | |
| Type | Private |
|---|---|
| Industry | |
| Founded | April 16, 1964 |
| Founder | Grahame Wood |
| Headquarters | , United States[1] |
Number of locations | 900 (2020)[2] |
Area served | Delaware, Florida, Maryland, New Jersey, Pennsylvania, Virginia and Washington, D.C.; Planned: Alabama, Georgia, Indiana, Kentucky, North Carolina, Ohio and Tennessee; Former: New York and Connecticut |
Key people | Chris Gheysens (CEO)[3] |
| Products |
|
| Revenue |  US$13 billion (2020)[4] |
| US$118 million (2011)[5] | |
| Total assets | US$1.57 billion (2011)[5] |
Number of employees | 37,000 (2020)[4] |
| Website | www |
Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Washington, D.C., and Florida. The company’s corporate headquarters is located in the Wawa area of Chester Heights, Pennsylvania in Greater Philadelphia. As of 2008, Wawa was the largest convenience store chain in Greater Philadelphia, and it is also the third-largest retailer of food in Greater Philadelphia, after Acme Markets and ShopRite.
Holdings and locations
In 2015, Wawa ranked 34th on the Forbes magazine list of the largest private companies, with total revenues of $9.68 billion. As of 2016, Wawa employs over 22,000 people[6][16] in 720+ stores (450+ offering gasoline). As of 2008, Wawa’s New Jersey stores were concentrated mostly in South Jersey.
As of 1989 Wawa Inc. and the Wood family together control about 725 acres (293 ha) of land, containing the corporate headquarters, the Wawa dairy farm, and J.T. Farms, within two municipalities in Delaware County, Pennsylvania. The properties are located in Chester Heights and Middletown Township. Wawa Inc. owns 50 acres (20 ha) of land around “Red Roof,” the corporate headquarters, 150 acres (61 ha) of land around the Wawa dairy, and the 225-acre (91 ha) J.T. Farms. The Wood family owns 300 acres (120 ha) of estate property. Cynthia Mayer of the Philadelphia Inquirer said that, as a result of the land holdings, the Wood family was “the closest thing to a feudal barony this side of du Pont.”
Beginning in the 1940s, the dairy facility began selling excess parcels of land. In 1964, it sold about 40 acres to the Franklin Mint. Several years prior to 1989, the dairy sold 25 acres of land to a retirement complex, Granite Farms Estates. The process of selling excess land continued sporadically.
Wawa Inc. owns the 225-acre J.T. Farms, a separate farm property. As of 1989 Wawa Inc. leases it to Bill Faul, who maintained a herd of 100 Holstein cattle and paid $1,500 (currently $2778.12) per month. Wawa continued to own the farm due to symbolic reasons. It also kept heifers along Route 1 in a strip of land adjacent to the plant which did not produce milk; Fritz Schroeder, then-vice president of Wawa Inc., said in 1989, “[w]e like them for the ambiance.”
History
The Wawa Food Market stores were also part of a then-new trend in retailing, the convenience store. Open both earlier and later than traditional supermarkets, they carried other foods and beverages besides milk, as well as other items from the Wawa dairy.
The former Wawa Dairy Farms building in Wawa, Pennsylvania
In 1977, Wawa began sharing ownership of the company with its associates through profit-sharing plans. In 1992, Wawa formalized its associate ownership with its Employee Stock Ownership Plan (ESOP), with stock being awarded to associates annually based on the prior year’s service. Because the company is privately held, Wawa secures an independent assessment of its stock value at regular intervals to ensure that the ESOP is fairly maintained. Today, the ESOP accounts for more than 40% of Wawa stock.