CTO Realty Growth Sells Wawa Ground Lease in Jacksonville for $7.1M

by Alex Tostado

JACKSONVILLE, FLA. — CTO Realty Growth has sold its ground lease of a Wawa convenience store in Jacksonville for $7.1 million, or a 4.9 percent cap rate. Wawa has 17 years remaining on the lease. The Dayton Beach, Fla.-based seller expects to use the proceeds to complete a future 1031 exchange. The buyer was not disclosed.

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