Ferber Company sold a recently completed Wawa in Miami-Dade County’s Fontainebleau neighborhood.
Patrick Nutt with SRS Real Estate Partners listed the property on behalf of Ferber, a Ponte Vedra Beach-based real estate development firm led by Chairman Paul Ferber.
The gas station and convenience store hit the market between the first and second quarters of last year, and with an asking price of $10.4 million, Nutt said. “We went under contract not long after that,” he said. [Kit Realty was] looking to reinvest capital into a net lease property.”
“Not only are they getting an investment grade tenant, but also a best-in-class location,” he said. “It checks all the boxes for generational real estate.”
Published at The Real Deal; click here for full article.