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Business Observer Friday, Apr. 10, 2015 3 years ago

Polk County: Wawa Florida sells store, land on U.S. Highway 98

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A Florida affiliate of Chester Heights, Pa.-based Wawa Inc. has sold off the real estate behind the first Wawa convenience store in Polk County and an adjacent parcel of land.

BUYER: MAS Florida Property 1 LLC (manager: Michael Serluco), Jupiter
SELLER: Wawa Florida LLC
PROPERTY: 4320 U.S. Highway 98 N., Lakeland
PRICE: $5.37 million
PREVIOUS PRICE: $2 million, December 2011

BUYER: Guevara Properties LLC (manager: Hector Guevara-Garay), Dade City
SELLER: Wawa Florida LLC
PROPERTY: 4320 U.S. Highway 98 N., Lakeland
PRICE: $1.11 million
PREVIOUS PRICE: $2 million, December 2011

PLANS, DESCRIPTION:
A Florida affiliate of Chester Heights, Pa.-based Wawa Inc. has sold off the real estate behind the first Wawa convenience store in Polk County and an adjacent parcel of land.
MAS Florida Property 1 LLC, a Jupiter purchase entity led by Michael Serluco, bought the 5,000-square-foot Wawa location on 2.71 acres at the southwest corner of U.S. Highway 98 and Williamstown Boulevard for $5.37 million.

The price equated to $1,074 per square foot. That figure is higher than the two-year average price per square foot for retail space ($129) in the Tampa Bay area, according to the CoStar Group.

Wawa constructed and opened the building last year. The company is working to create additional locations in Auburndale and Winter Haven that are expected to open later this year.
At roughly the same time, Wawa Florida LLC sold 1.76 acres south of the Wawa store to Guevara Properties LLC, a purchase entity led by Dade City internist Dr. Hector Guevara-Garay, for $1.11 million. The site is zoned as vacant commercial land, but the deed contains restrictions prohibiting it from being developed into a food, coffee, doughnut, sandwich or convenience store, quick-service restaurant or drugstore.

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