Commercial Real Estate, Capital, Insurance, Leasing & Management

The Mathis Report: Wawa site at Beach and Southside is up for sale

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Franklin Street has listed a Wawa gas station for sale on behalf of the property owner in Jacksonville.

Excerpted from Jax Daily Record story.

The Wawa Inc. gas station and convenience store under construction and scheduled to open this fall at 9731 Beach Blvd. is for sale.

The site, at northeast Beach and Southside boulevards, is where the Southside Estates shopping center was partially demolished to make way for the new development.

The Franklin Street real estate firm listed it for sale on behalf of property owner 9731 Beach Blvd LLC. The LLC, led by Justin Ashourian, bought the site in November 2014.

Ashourian is listing the property, subject to a ground lease to Wawa, for sale. The Wawa lease runs through November 2038.

The Franklin Street real estate company is listing the property at almost $4.8 million. The 6,119-square-foot building was developed on 1.75 acres.

Franklin Street Director Chad Atwood is the listing broker.

Ashourian said Tuesday that Wawa’s construction should be completed by early October. He said he was selling the property “just to move on to new ventures,” but doesn’t have any to discuss.

“I don’t have anything on the front burner right now,” he said.

Wawa is being built at the corner of the Southside Estates center, a retail plaza developed in 1962.

Spokeswoman Lori Bruce said Tuesday that most of Wawa’s Florida openings are land leases with its development partners, who may opt to sell the real estate once the store opens for business.

“It does not impact the store,” she said.

She said three Jacksonville area stores will open this year, tentatively in the fourth quarter. Those are at Beach and Southside boulevards in Jacksonville and two in Clay County – one in Middleburg and one in Orange Park.

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