Harrisonburg, VA - First Watch

Description:

• The tenant recently signed a brand new 10-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation
• First Watch operates over 570 locations throughout the United States

• The subject property is an outparcel to Harrisonburg Crossing, which features a 200,000+ SF Walmart Supercenter, a 98,000+ SF Home Depot, Ross, Best Buy, Barnes & Noble, and more
• The asset is located within walking distance to James Madison University, one of the largest universities in Virginia, with a total enrollment of over 21,000 students
• The property is in the center of a primary retail corridor with other nearby national/credit tenants including Target, Lowe’s, Hobby Lobby, ALDI, TJ Maxx, Texas Roadhouse, and many more