Glen Allen, VA - Aldi

Description:

• ALDI recently signed a new 20-year lease with 6 (5-year) options to extend
• This corporate guaranteed lease by ALDI, Inc. features 10% rent increases every 5 years and 8% at the beginning of each option
• Aldi plans to open more than 180 new stores across 31 states by the end of 2026, for a total of 2,800 stores. This is part of a larger $9 billion five-year investment goal to reach 3,200 stores nationwide by 2028.

• The subject property is located in Stony Run Commons, consisting of 11 individual operators (7-Eleven, Bank of America, Panda Express, and others)
• Less than one mile north of the new residential development, Village at Virginia Center Commons & is adjacent to Northcross Center, anchored by Home Depot
• Strong tenant synergy promotes crossover shopping to the subject property
• The asset is located at the signalized intersection of Washington Hwy and Cedar Ln with a combined 25,000 vehicles passing by daily
• Washington Hwy (Rt 1) runs between Fredericksburg and downtown Richmond, connecting the city of Richmond to many popular suburbs
• The asset has excellent visibility and 7 access points on various roads, directly off of
I- 95

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Listing ID: a28TP000002YwbVYAS