As reported by the Washington Business Journal, Wawa is coming to 2424 18th Street NW in Adams Morgan, making it the 4th announced location in Washington, DC. The 6,400 square foot ground floor retail space will follow the contemporary design of Wawa’s new urban store model. Wawa stated in a press release that it plans to open 25 stores in the mid-Atlantic, including five to ten stores in the Washington, D.C., market. Wawa reports that each new urban model store will employ close to 100 associates.
Known for its large fresh food selections and made-to-order hoagies, the wildly popular Wawa on 19th street NW was thefirst to open in Washington DC. The new 18th Street location, in the heart of Adams Morgan’s retail and entertainment core, offers an opportunity to draw a new following from the large evening and weekend crowds that drive the vibrant and unique neighborhood experience.
Fernandez commented;“Wawa hopes to expand its brand awareness to DC’s 1.3M residents and daytime employees, including the 200,000 millennials, who live and work in the city”. Fallon continued, “This is the type of asset that should appeal to the global market of institutional and private investors who know Wawa and who want to invest in Washington DC. We expect to go to marketin the first quarter of 2019.”
Calkain’s Fallon and Fernandez have a strong track-record of selling notable trophy net lease retail assets across the city including the Dupont Circle Starbucks, Matchbox on 14th Street, the CVS in Adams Morgan, and the Sweetgreen building at 221 Pennsylvania Ave, which sold earlier this year. The Wawa concept is new to urban retail, but the brand has a cult following of customers and investors, who have been acquiring traditional ground lease convenience store investment properties through Calkain for years. The new Wawa at 2424 18th Street is an ideal blend of traditional net lease and urban retail investment sales, and Calkain has excelled at both.
Calkain Companies is a commercial real estate brokerage firm specializing in assisting buyers and sellers of single and multi-tenant net-leased properties. Calkain works with developers, buyers, sellers and real estate professionals to deliver a global buying audience to a highly sought after, client focused platform that covers all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Additional information about the firm and listings may be found at www.calkain.com
