SOLD – Cypress Run Plaza

THE OPPORTUNITY

• The shopping center sits at a signalized intersection with strong traffic flows and draws from high income neighborhoods and major national retailers in the immediate area.
• The leases are staggered and expire incrementally through 2027
• Wells Fargo, Ultimate Tan, and Jalapenos have been operating in the center for over 15 years
• Riverside Hospital recently executed 5-year lease, which shows strong leasing momentum
• Favorable expenses reimbursement terms for the landlord
• Wells Fargo has $56 million in deposits at this location
• The Kroger next door is a top performing store
• Solid access with 3 entry points to the center
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THE HIGHLIGHTS

• 312 single family homes were developed in Isle of Wight County in 2021, and there have been 780 new single-family homes developed in the county over the past three years
• Average Household Incomes:
• 1 mile: $117,199
• 3 mile: $100,825
• 5 mile: $102,909
• Minimal vacancies within the submarket
• Kroger, Roses, Dollar Tree, Tractor Supply and more are in the same retail corridor
• Strong daily traffic with over 27,000 VPD on Benns Church Blvd​