CBRE Arranges $12.17 Million Sale of Wawa/Tractor Supply Retail Property at 1937 York Road in Jamison, PA

CBRE today announced it has completed the $12.17 million sale of 1937 York Road in Jamison, PA. The 25,000 sq. ft. retail property at the intersection of York Road/Route 263, Meyer Way and Meeting House Road, occupied by a Wawa and Tractor Supply center, was acquired by ExchangeRight from ARCTRUST, a successful national development firm with over 40 years of experience that owns more than 500 properties valued at more than $5 billion.

Matthew Gorman and Michael Shover, who lead the CBRE Net-Lease Property Group Mid-Atlantic Team, spearheaded the marketing campaign and represented the seller in the negotiations.

“The acquisition was an all-cash transaction with a very sophisticated institutional buyer who was on the hunt for a “high profile” net lease property,” said Gorman. “It was a “Win! Win!” result as we were able to achieve aggressive pricing and a low cap rate, while fulfilling the buyer’s needs in a tumultuous investment environment.”

In addition to the retail property housing two investment-grade credit tenants with scheduled rental increases, the asset includes nearly12 acres of land for future development within a densely populated and affluent demographic submarket.