Site for new Wawa sells for $4.8M

Wawa is the new tenant for a building that sold for $4.8 million in Reading.

Formerly the site of a Bottom Dollar, the newly built 5,585-square-foot-building is at 413 Lancaster Ave.

Wawa signed a lease for a newly completed building on Lancaster Avenue in Reading. The building recently sold for $4.8 million. (Submitted) –

American Regent Reading LLC, a local developer, sold the building to 413 Lancaster Associates, according to Derrick Dougherty, first vice president of investments for Marcus & Millichap of Philadelphia. Dougherty and Steve Garthwaite, an associate at Marcus & Millichap, represented the buyer and seller in the transaction.

Wawa is leasing the ground from the owner under a 20-year lease, Dougherty said in a statement.

“Wawa had been looking to enter this dense infill market for about five years,” Garthwhite said in a news release.

 

Brian Pedersen
Reporter Brian Pedersen covers construction, development, warehousing and real estate and keeps you up to date on the changing landscape of our community. He can be reached at brianp@lvb.com or 610-807-9619, ext. 4108. Follow him on Twitter @BrianLehigh.

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