5,500 SF “Super” Wawa opens in Northeast Philadelphia
The 5,500-square-foot convenience store joins a 68,000-square-foot ShopRite, which is the anchor tenant at the newly developed $29 million, 110,000-square-foot shopping center. The project has been in the works for the last five years and involved the remediation of a 15-acre brownfield site at Harbison Avenue and Tulip Street.
“It’s a very complicated project,” said Richard Soloff of Soloff Realty & Development Inc., which represented the developer, FC Development Group and ARC Properties Inc.
The project sits on a several assembled industrial properties that needed to be environmentally cleaned up. It received a series of state and city tax credits to help with the remediation and financing. For example, the Reinvestment Fund (TRF) helped arranged a $14.5 million in New Markets Tax Credit as well as a loan that involved the Philadelphia Industrial Development Corp. and LISC. Funds from TRF’s federal Healthy Food Financing Initiative award.
Aside from providing a grocery store where one had not existed, the project also created 300 permanent jobs. The center is nearly fully leased with a pad site and 5,000 square feet still vacant. Other tenants include Blink Fitness, AT&T and Hair Cuttery. “It’s fully realized at this point and we’re just wrapping up the loose ends,” Soloff said.