Hampton, VA - Shops at Peninsula Town Center Bldg F

Description:

SRS Capital Markets is pleased to present the rare opportunity to acquire the condo interest in Shops at Peninsula Town Center (Bldg F) - First Floor, a high-quality retail center located in Hampton, VA. The offering includes parking lot and the first floor of the larger Peninsula Town Center Building F, which is fully occupied and spans 31,906 SF. The property is anchored by Barnes & Noble, with two small tenants Mr. Fix, and The Skinny Dip. Barnes & Noble has just signed a 5-year extesnion to 3/30/2030. The second floor of the building, not part of the offering, is fully leased by Bryant & Stratton College. The subject property benefits from its adjacency to JCPenney, Target and numerous other national/credit tenants in the center, which promotes crossover traffic between the anchor and the existing tenant lineup.

The site is well-located at the intersection of Interstate 64 and Mercury Boulevard, the primary east/west thoroughfare through the Hampton Roads market. It is located within close proximity to the Langley Air Base and NASA Langley Research Center, which are central locations within the defense-driven Hampton economy. In addition, the site is well-located within close proximity to the Hampton Coliseum, Hampton Roads Convention Center, and Boo Williams Sportplex youth sports complex, with a combined 1,000,000+ annual visitors. The Shops at Peninsula Town Center draws from a broad 5-mile trade area featuring a population over 202,000 residents, more than 119,000 employees and an average household income exceeding $84,457. Peninsula Town Center sits in the heart of the trade area and has seen over 7.1 million visits in the last 12 months, demonstrating a high volume of traffic to the center.