This Week’s Philadelphia Deal Sheet: Wawa Lists 7 Suburban Philly Properties For $4.1M
Wawa has expanded rapidly in recent years, but that doesn't mean the company hasn't also been pruning its real estate portfolio.
The Delaware County-based convenience chain listed seven Greater Philadelphia properties for sale earlier this month, including five vacant stores and two pieces of land. All are within a short distance of a newer Wawa location.
Wawa is looking for a collective $4.1M for the portfolio, according to a listing from MSC. The properties can be purchased together or individually.
Despite their history, the buildings cannot be repurposed as convenience stores or similar outlets, according to deed restrictions explained in the listing.
Locations include Levittown, Trooper and Upper Chichester in Pennsylvania and Pine Hill, Absecon, Egg Harbor Township and Waretown in New Jersey. Prices range from $300K to $825K.
SALES
The Philadelphia Housing Authority spent nearly $27M to add 95 new units to its portfolio. These newly acquired apartments range from studios to six-bedroom units.
Here is the full list of acquisitions:
- Wister Court Apartments: 49 units at 545 and 549 Wister St. in Belfield, $13.1M.
- Grove Apartments: five units at 1312-1316 Grove St. in Grays Ferry, $1.2M.
- Harmony: 19 units at 1328, 1336, 1342 and 1350 S. Harmony Street in Grays Ferry, $4.8M.
- S. 47th and Woodland Properties: 22 units at 1241, 1243, 1245 S 47th St. and 4619 Woodland Ave. in southwest Schuylkill, $7.7M.
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Salem, New Jersey, fielded nearly $800K worth of bids for city-owned properties earlier this month, according to a social media post from Director of Housing and Commerce Sean Brown.
Buyers are expected to begin construction “within a reasonable timeframe” or risk forfeiture of the property “as we are committed to ensuring that development aligns with Salem’s broader goals for revitalization and community growth,” the post states.
CONSTRUCTION AND DEVELOPMENT
Buccini Pollin Group and Riverfront Development Corp. will celebrate the groundbreaking of the Justison apartment complex in Wilmington on Thursday morning. The 164-unit development is located at 308 Justison St. overlooking the Christina River.
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A 16-story apartment building proposal in Allentown received approval from the Lehigh Valley Planning Commission, WFMZ reported. The 267 units are slated for 249 N. Front St., a lot overlooking the Lehigh River.
THIS AND THAT
Philadelphia Parks & Recreation is seeking expressions of interest for the redevelopment of the LOVE Park Welcome Center affectionately known as “the Saucer.” The informal process is meant to field “bold ideas and concepts” from restaurateurs, cultural curators, nonprofit leaders and more, according to a press release.
Proposals must be submitted to katie.burns@phila.gov in PDF form by 5 p.m. on June 6. The subject line must be: “Saucer RFEI Submission – [Your Business Name].”
