Gainesville, VA - Sheetz

Description:

• Brand new 15-year lease with 7 (5-year) options to extend, demonstrating their long-term commitment to the site
• Corporate signed lease by Sheetz, Inc., an American chain of convenience stores and coffee shops operating since the 1980s
• Lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option, steadily growing the NOI and providing a hedge against inflation
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from leased fee interest (land ownership)
• No landlord responsibilities
• Brand new construction which features high quality materials and distinct design elements
• The asset benefits from significant street sign frontage, promoting excellent visibility and ease of access for customers

• Sheetz is strategically located at the signalized, hard corner intersection of Lee Highway and University Boulevard averaging 68,000 VPD
• Part of the new Gainesville Crossing development that will feature Townplace Suites (112-rooms), drive-thru coffee, QSR, and more
• The immediate trade area is supported by surrounding big box retailers such as Lowe’s, Target, Giant Food, Best Buy, and more
• Ideally positioned off Interstate 66 (120,000 VPD), providing direct on/off ramp access for travelers
• Strong tenant synergy promotes crossover exposure to the subject property
• More than 368,000 residents and 116,000 employees support the trade area
• $179,504 average household income within a 3-mile radius