22 —September 2025 — Delaware — DelMarVa — M id A tlantic Real Estate Journal
www.marej.com
D elaware
Wawa opens in Newark, DE with NAI Emory Hill Land Lease
Acadia Realty Trust sells 230,255 s/f shopping center JLL Capital Markets arranges $30 Million sale of Eden Square
EAR, DE — JLL Capi- tal Markets has ar- ranged the $30 million sale of Eden Square, a 230,255 s/f Giant-anchored shopping center located in Bear. JLL worked on behalf of the seller, Acadia Realty Trust . The buyer was Lenox Group . Eden Square is located at 100 Eden Cir., offering roadway visibility along the highly traf- ficked Rte-40 and Rte. 1 inter - change with more than 43,900 and 45,400 vehicles per day, respectively. The property sits approximately 10 miles from Wilmington and 30 miles from Philadelphia, providing strong regional connectivity. The 98% occupied center is anchored by Giant Food, which has over 30 years of tenure at the location. The center fea- tures a complementary tenant lineup that includes LA Fitness, Gabe’s, Citi Trends, Dollar Tree, Fulton Bank, Starbucks and more. Credit and national tenants account for 89% of the property’s gross income. Eden Square benefits from significant leasing momentum, B
Wawa
one of the most beloved and recognizable brands in the Mid-Atlantic region. The store held its grand opening on Au- gust 1, drawing enthusiastic local crowds eager to celebrate the new location, take pictures with Wally the Goose, and win giveaways. “This is a fantastic use for this highly visible corner,” said O’Hara, Jr. “Wawa is a strong brand with a loyal customer base, and their presence will add tremendous value to the property and surrounding neighborhood. It’s a great match for the location and for the owner.” O’Hara regularly represents Fusco Management in leasing efforts across their Delaware retail portfolio. MAREJ
NEW CASTLE, DE — Wawa has officially opened its newest Newark location
Eden Square
at 2645 Cap - itol Trail, following a long-term land lease brokered by Jim O’Hara, Jr. , of NAI Emory Hill . The deal was
with over 31,238 s/f of new leases and 20,360 square feet of renewals executed in the past 36 months. The property serves a densely populated trade area with a population of more than 141,000 and an average house- hold income of $97,866 within a five-mile radius. JLL Capital Market’s Invest - ment Sales and Advisory team representing the seller was led by senior managing directors Jim Galbally and Jordan Lex and Directors Patrick Hig- gins and Daniel Naughton . “Eden Square represents a generational opportunity to acquire a grocery-anchored
shopping center with strong credit tenancy in an estab- lished retail node,” said Galbally. “The property’s excellent visibility, robust traffic counts and impressive customer visit metrics demon- strate its dominant position within the Bear submarket.” “The sale underlines the con - tinuing demand for well-located, grocery-anchored shopping cen- ters in the mid-Atlantic,” added Higgins. “The strength of retail fundamentals in the Philadel- phia MSA continue to attract an array of investors seeking durable cash flow and strong, risk-adjusted returns.” MAREJ
Jim O’Hara, Jr.
completed with property own- er Astro Center LLC , oper- ated by Fusco Management . Emory Hill was instrumen- tal in the acquisition of the corner and adjacent site in order to accommodate Wawa. Known for its made-to-order food, fresh coffee, and quick convenience, Wawa remains
UPCOMING CONFERENCES
WE NEVER RUN AWAY FROM PROBLEMS, WE RUN TO THEM.
6th Annual NJ Retail & Mixed-Use Conference Tuesday, October 7th 7:45am - 10:30am Sheraton Edison Hotel
11th Annual NJ Office & Industrial Commercial Real Estate Conference Thursday, November 6 7:45am - 10:30am Sheraton Edison Hotel New Jersey Commercial Real Estate Forecast Conference Date TBD 7:45am - 10:30am Sheraton Edison Hotel
From capital markets to complex supply chain issues, the built environment has never faced bigger challenges, which is why Cushman & Wakefield have the kind of advisors with a relentless drive to not just solve problems for clients and communities, but actively hunt them down.
For more information or to register visit marej.com or email lea@marejournal.com
Made with FlippingBook. PDF to flipbook with ease