Peninsula Town Center – Building D

2540 McMenamin St, Hampton, VA 23666

Opportunity to acquire a portion of one of the most successful shopping centers in one of the densest and most stable markets on the East Coast
The asset is 100% occupied with short term and no options on all existing retail tenants leaving room to push rents significantly at renewal
Upon renewals with Shoe Dept and Bath & Body Works, projected going in cash returns go from 7.75% to 12.43% with an increase to the NOI of over $100,000
Excellent historical sales from both Shoe Dept and Bath & Body Works provide surety of commitment to the market and to these locations
Central location within Peninsula Town Center giving it significance, prominence and ease of access to all common areas used by hotel guests, residents, and visitors
Addition of adjoining multifamily residential will continue to increase the number of Live/Work/ Play customers on site
The Peninsula Town Center Anchor, Target, was fully remodeled in 2022 with a full interior remodel and exterior facelift
With over 6.76 million annual visits, PTC is the second highest trafficked center in Hampton Roads
Great visibility from I-64
Peninsula Town Center offers a variety of experiential retail uses including restaurants and EVO entertainment theater, which complement the overall development’s activity-oriented retail such as Skyzone and Latitude Climbing Gym
High traffic count intersection
I-64: 183,000 cars daily
Mercury Blvd: 61,000 cars daily
The Hampton Roads market is a direct beneficiary of being home to the largest concentration of military installations in the world
Significant Live/Work/Play environment with a combination of over 525 apartments and hotel rooms on site

Virtual Deal Room

Ryan McArdle

License: GA 317459

ryan.mcardle@thepalomargroup.com

Office: 706-407-4443

Cell: 706-631-8897

Brent Hadden

brent.hadden@thepalomargroup.com

Office: 706-407-4443

Cell: 706-993-5010