Marcus & Millichap on Wednesday announced the successful closing of 1095 U.S. 1, a net-leased Wawa property in Edison. The high-profile asset traded for $8,823,000.
The transaction highlights the continued appetite for prime triple-net (NNN) assets in the Northeast, particularly those occupied by high-performing national tenants.
“We saw strong interest from private and 1031 buyers nationwide, which drove a very competitive bidding environment,” Alan Cafiero, senior managing director investments at Marcus & Millichap. “Wawa’s proven performance, combined with the site’s location in Edison, allowed us to deliver a best-in-class execution for our client at a strong price.”
The property, which was completed in 2025, consists of a 5,585-square-foot convenience store equipped with fuel services. It occupies a sprawling 3.02-acre parcel strategically situated at the busy intersection of U.S. Route 1 and Interstate 287.
Key highlights of the sale include:
- Tenant Profile: Wawa Inc., a dominant convenience and fuel brand in the Mid-Atlantic.
- Lease Terms: The property is subject to a 20-year absolute net ground lease, offering the buyer long-term, passive income.
- Traffic Counts: The location sees significant exposure with over 95,000 vehicles per day along Route 1.
- Proximity: The site serves as the entrance to the Edison Crossroads shopping center and is located near major national retailers such as Home Depot.
The seller was represented by a Marcus & Millichap investment team led by Alan Cafiero, Brent Hyldahl, and Vincent Pennino. The firm’s ability to leverage its national platform was cited as a key factor in attracting a diverse pool of bidders, including those seeking to satisfy 1031 tax-deferred exchange requirements.
In 2025, Marcus & Millichap closed over 8,800 transactions totaling approximately $50.8 billion in sales volume, reinforcing its position as a leader in commercial real estate investment sales and advisory services across North America.
