Overview

Description

SRS National Net Lease is pleased to offer to opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, corporate guaranteed, Lane Bryant investment property located in Richmond, Virginia. The tenant, Lane Bryant #4696 LLC, has aproximately 5 years remaining in the cuurent term. Lane Bryant previously waived their early termination right and extended the lease for an additional 5 years, demonstrating their commitment to the site. The lease is NN with landlord responsibilities limited to roof, structure, and foundation.

Lane Bryant is located within Chesterfield Crossing, a 250,262 SF community center, which is anchored by Target and Kohl’s, promoting crossover traffic and shopping to the site. The subject property is also located along Midlothian Turnpike / US Highway 60, a major east/west retail and commuter thoroughfare servicing the city of Richmond, averaging 52,000 vehicles passing by daily. This route is part of a dense retail corridor with multiple shopping centers located nearby, including: Chesterfield Towne Center (1,030,826 SF), Chesterfield Marketplace (199,391 SF), Pocono Crossing (180,845 SF), Stonehenge Village Shopping Center (180,000 SF), Towne Crossing (111,014 SF), and more. Other nearby national/credit tenants include Walmart Supercenter, Sam’s Club, Food Lion, The Home Depot, and more, further increasing consumer draw to the subject trade area. The 5-mile trade area is supported by nearly 138,000 residents and more than 76,000 employees. Residents within this trade area boast an affluent average household income of $129,656.

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