Ground-leased Wawa in Henrico County sells for $3.8 million

Paula C. Squires //August 31, 2015//

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Ground leased properties with a long-term tenant continue to attract investors.

The Kerlin Corp., a Cincinnati-Ohio based company that designs and installs professional lawn irrigation systems, purchased a ground-leased Wawa at 2415 Staples Mill Road in Henrico County from GGC — Staples Mill Road LLC for $3.8 million.

According to Cushman & Wakefield | Thalhimer, which brokered the deal, the company bought the property as an investment. Thalhimer’s Catharine Spangler and Kenneth Penrose, Jr. handled the sale negotiations.

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