SOLD – The Crossings

5260 Oaklawn Blvd, Hopewell, VA

THE OPPORTUNITY

Big Lots anchored asset with 8 years of term remaining
Well maintained Shopping center in great physical condition
Majority of base rent coming from small shop tenants limiting vacancy risk normally seen with big box tenants
Total Revenue expected to grow by more than 20% by 2023
Staggered lease terms with less than 10% of the GLA expiring in any given year through the next 9 years
New roof on 50% of the shopping center
Legacy tenants who have been in the center for over 20 years
Immediate upside through rental bumps and lease up of vacant units
E-commerce proof tenant lineup with over 20% of small shops are restaurant or service related businesses
Excellent visibility and access
Dominant shopping center within the market

THE HIGHLIGHTS

• Situated at the gates to Ft Lee – One of the top 3 largest training installations for the Army with over 70,000 soldiers passing through every year

• Located within the Richmond, VA MSA (Prince George County)

• Close proximity and easy access to I-95 and I-295

• 10% population growth over the past 10 years

• Strong traffic counts of over 33,000 AADT

This property has sold.