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Marcus & Millichap Negotiates Sale of New Wawa-Leased Gas Station, Store in Loxley, Alabama
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Marcus & Millichap Negotiates Sale of New Wawa-Leased Gas Station, Store in Loxley, Alabama
LOXLEY, ALA. — Marcus & Millichap’s Taylor McMinn Retail Group has negotiated the sale of a newly constructed gas station and convenience store in Loxley, an eastern suburb of Mobile, Ala. Wawa occupies the retail property on a 20-year lease that features 7 percent rental increases starting in year 11 of the initial term and extension options. An investor purchased the property for an undisclosed price in a 1031 exchange all-cash from an Alabama…
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