Falls Drive Through Wawa Property Sale Leads to Unfounded Rumors
The post sent to Lower Bucks Source late Tuesday night said the property of the still new “Drive Through Wawa” in the Morrisville section of Falls was put up for sale and provided a link a Loopnet.com. The company is a commercial real estate marketing platform.
Two additional sources who heard (about) and/ or saw the post, which seems to have been removed, e-mailed LBS asking what if anything was known about the sale and if the drive through location was closing.
A Levittown woman, who works in Falls and “loves” the Drive-Through concept said “if they were to close that Wawa my morning schedule would have to change since I go there for breakfast and coffee every morning on way into work.”
Well don’t despair, as Wawa Spokeswoman Lori Bruce explained Wednesday morning what people are actually seeing when viewing the sale listing.
“The listing referenced below simply reflects the developer selling a lease, a common practice in the real estate industry. This in no way impacts our confidence in, or the operation of, the Wawa Drive Thru location,” said Bruce.
The 1850 square foot property lists at a sale price of $3.2 million at a 4.35 percent cap rate. The sale is being handled by CBRE Group, Inc, which specializes in business related properties.
Essentially the property developer, who leases to Wawa, is selling off its stake in the asset. New businesses can be opened on the property in the future.
“It will continue to operate as a Wawa with no impact” Bruce said.
Falls Township officials did not reply to requests for comment.