Investment Highlights

NEW 100% LEASED TWO-TENANT RETAIL CENTER
» 100% leased to notable national tenants
» Starbucks S&P rating recently upgraded to an “A”. Heartland Dental is the largest dental organization, with more than 750 locations and over $850 million in revenue.
» Scheduled rental increases for both tenants, providing a hedge against inflation
» Starbucks relocated from an inline space within the Hanbury Village shopping center
» New Starbucks location features a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» New high-quality construction featuring latest store designs and concepts

HIGH-TRAFFIC LOCATION IN GROCERY-ANCHORED SHOPPING CENTER
» Immediate access to Great Bridge Bypass, one of the major transportation corridors through the region, with a high traffic count of 44,347 vehicles per day
» Outparcel to Hanbury Village, a large shopping center featuring Harris Teeter, Walgreens, Petco, Massage Envy, Supercuts, 7-Eleven, and many others

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Surrounded by wealthy residential neighborhoods, with average household incomes greatly exceeding $100,000 within one-, three-, and five-mile radii
» Within walking distance of Great Bridge High School, with a total enrollment of 1,530 students
» Close proximity to Chesapeake Regional Medical Center, a 310-bed hospital with 2,400 employees
» Near Tidewater Community College, one of the largest and fastest growing community colleges in the U.S., with over 37,000 students
» Minutes from the Chesapeake Municipal Center, location of the administrative offices of the City of Chesapeake
» The City of Chesapeake is one of the largest employers in the region, with 3,680 employees

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Property Description

SOLD

The property is located in Hanbury Village, a shopping center with excellent visibility and access to 16,000 vehicles per day on Hanbury Road. The property benefits from immediate access to Great Bridge Bypass, a major transportation corridor through the region, with a high traffic count of 44,347 vehicles per day near the property. The property is outparcel to the Hanbury Village shopping center, which is anchored by Harris Teeter and features a number of national tenants, including Walgreens, Petco, Massage Envy, Supercuts, and 7-Eleven. Several large shopping centers are near the property, including Edinburgh Commons, a shopping complex anchored by Walmart Supercenter, Home Depot, and Target. Other notable retailers near the property include Rite Aid, Food Lion, Advance Auto Parts, Anytime Fitness, AT&T, McDonald’s, and many others.

The property is centrally located near major employers, large schools, and wealthy residential neighborhoods. The property is a few miles south of Chesapeake Regional Medical Center, a 310-bed hospital with 2,400 employees. The Chesapeake Municipal Center is also nearby; the City of Chesapeake is one of the largest employers in the region, with 3,680 employees. Great Bridge High School, with a total enrollment of 1,530 students, is within walking distance of the property, and Tidewater Community College is a few miles from the property. The college is the largest provider of higher education and workforce development services in Southeastern Virginia and is among the 50 fastest growing large two-year institutions in the nation. The property is also surrounded by wealthy residential communities. The average household income is $120,383 within a one-mile radius of the property, and average household incomes greatly exceed $100,000 within three- and five-mile radii.