Just Sold: Wawa in Vero Beach, FL

Ground + Space today announced the sale of a new Wawa property in Vero Beach, Florida. Michael Zimmerman exclusively marketed the property, which sold for the full asking price to an all-cash 1031 buyer. This listing garnered multiple offers thanks to the property’s strong corporate tenant and Wawa’s status as an essential retailer.

Wawa convenience stores are one of the most sought-after net lease investments on the market today. Wawa sites offer investors long-term security and no maintenance or management responsibilities thanks to a Ground lease structure. Wawa convenience stores are located on prime real estate, typically at hard corner locations with great visibility and ingress/egress. This particular Wawa location has full access via Old Dixie Highway and additional exposure on three main roadways. Although the area surrounding the property is mostly zoned for industrial use, visitors have easy access to Vero Beach Regional Airport and Disney’s popular Vero Beach Resort.

Situated along Florida’s Treasure Coast, this newly constructed Wawa sits within Indian River County, Florida’s seventh-richest county by per capita income. The average annual household income within just three miles of the site is nearly $85,000. Additionally, the area immediately surrounding this Wawa has seen a population boom, growing an average of around 18 percent within a five-mile radius over the past decade.

About Ground + Space

Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. During these uncertain times, Ground + Space remains dedicated to providing best-in-class services and results to our clients. We have several listings available featuring retailers that are in a prime position to succeed in a post-pandemic economy. Contact us today to find out more!


Just Sold: Wendy’s in Winter Park, FL

Ground + Space today announced the sale of a Wendy’s property in Winter Park, Florida. Michael Zimmerman exclusively marketed the property, which sold within four percent of the asking price to an all-cash 1031 buyer. This listing garnered multiple offers thanks to the property’s strong corporate quick-service restaurant (QSR) tenant, the world’s third-largest hamburger fast food chain.

This property is a prime example of a stable, COVID-safe asset that requires no landlord maintenance. The Wendy’s Ground lease features a corporate guarantee, multiple five-year renewal options and scheduled 10 percent rental increases. The new in-line concept features a drive-thru lane and is adjacent to a SimonMed Imaging location. The site is less than one mile from the popular Park Avenue shopping district, the city’s new SunRail station and the Valenica College Winter Park campus.

Wendy’s benefits from its prime location less than five miles from the heart of downtown Orlando, Florida. The city has long been a popular tourist destination, attraction more than 75 million people from around the globe in 2018 alone. Major attractions within easy driving distance from the site include Walt Disney World Resort, Universal Orlando Resort, SeaWorld Orlando and LEGOLAND Florida Resort.

About Ground + Space

Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. During these uncertain times, Ground + Space remains dedicated to providing best-in-class services and results to our clients. We have several listings available featuring retailers that are in a prime position to succeed in a post-pandemic economy. Contact us today to find out more!


Just Sold: The Tire Choice in The Villages, FL

Ground + Space today announced the sale of The Tire Choice in The Villages, Florida. Michael Zimmerman exclusively marketed the property, which sold within 2.5 percent of the asking price to an all-cash 1031 buyer. This listing garnered multiple offers thanks to the property’s strong corporate tenant and The Tire Choice’s status as an essential retailer.

This property is a prime example of a stable, income-producing asset that requires no landlord maintenance. The Tire Choice’s NNN lease features a corporate guarantee, multiple five-year renewal options and scheduled rental increases. The Tire Choice is conveniently located along a dense retail corridor that includes other national tenants like Publix, Walmart, Bealls, The Fresh Market and Red Lobster.

The Tire Choice benefits from an ever-growing consumer base as The Villages continues to grow in population and popularity. Forbes recognized The Villages as one of the “25 Best Places to Retire” in the United States for the second time in 2018, and The Villages was recently named the best-selling master planned community for the seventh consecutive year in 2020.

About Ground + Space

Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. During these uncertain times, Ground + Space remains dedicated to providing best-in-class services and results to our clients. We have several listings available featuring retailers that are in a prime position to succeed in a post-pandemic economy. Contact us today to find out more!