Gloucester, VA - KFC

Description:

• The tenant, KFC, will enter into a brand new 15 year lease at COE with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• There are over 30,000 KFC restaurants in 150 countries and territories around the world

• The subject property is directly next to the Shoppes at Gloucester, a 74,000+ SF shopping center, that is anchored by Big Lots, Dollar Tree, Tractor Supply, Ollie’s, Aaron’s, and more
• Other nearby national/credit tenants include Home Depot, Lowe’s, Walmart Supercenter, Aldi, Ulta, Petco, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The site is in close proximity to Gloucester High School (1,531 students), further increasing consumer traffic to the immediate trade area