Agree Realty Corp. has closed on the acquisition of a parcel of land located at the southwest quadrant of 34th Street and 38th Avenue in St. Petersburg, Fla. for the development of a Wawa convenience store with fuel.
The project is pre-leased under a long-term ground lease agreement and is expected to be completed during the fourth quarter of 2013. This is the company’s fourth announced development for Wawa in the state of Florida.
Wawa is an industry leader in gas and convenience store retailing operating more than 600 stores in Pennsylvania, New Jersey, Delaware, Maryland, Virginia and Florida.
Agree Realty is primarily engaged in the acquisition and development of single tenant properties net leased to industry leading retail tenants. The company currently owns and operates a portfolio of 114 properties, located in 30 states and containing approximately 3.3 million square feet of gross leasable space.