Christiansburg, VA - Spradlin Farms 400 Suites

Description:

• Opportunity to acquire a 95% occupied retail strip center located in Christiansburg, VA
• Strong tenant lineup that includes Advance Auto Parts, Launch Wireless (T-Mobile), The Joint, Nail Story, Which Which, and Five Guys
• Weighted average lease term remaining of 7.63 years
• The asset is anchored by Advance Auto Parts which recently signed a brand new 10-year lease with options to extend, demonstrating their long-term commitment to the site
• Five of the six tenants have scheduled rental increases, boosting NOI and hedging against inflation (see pg. 7 for more details)

• Subject property is located at the hard corner intersection of N. Franklin Street and Conston Avenue NW with excellent visibility along N. Franklin Street
• The asset is located within Spradlin Farms Shopping Center, a 181k+ SF regional shopping center with multiple big box tenants
• Spradlin Farms Shopping Center is anchored by Big Lots, T.J. Maxx, Barnes & Noble, Michaels, Petco, and shadow-anchored by Target and The Home Depot
• Other surrounding big box national/credit retailers include Walmart Supercenter, Lowe’s, Hobby Lobby, Best Buy, Harbor Freight Tools, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for this site