Investment Highlights
Attractive Lease Fundamentals
New Construction
Strong Surrounding Demographics
Executive Summary
Attractive Lease Fundamentals - Each tenant has rental increases throughout the base term and option periods - Each lease is structured NNN providing minimal landlord responsibility - Each tenant is either corporate backed or healthy franchiseeStrong Brand Name Tenant Mix - The center includes Mezeh (53 locations), Wingstop (1,892 locations), Domino?s (19,980 locations), and Capriotti?s (175 locations)Strong Surrounding Demographics - Over 322k people live within a 5-mile radius - Average household income nearly $100K - Nearly 500k residents live within a 15 minute drive timeHigh Visibility in Major Retail Hub - Situated at the intersection of Kempsville Rd (32K VPD) & Providence Rd (24K VPD) - Over 800K SF of retail space located in a 1-mile radius - Fairfield Shopping Center has recently gone through $1.5M of capital improvements - Nearby National Tenant?s include: TJ Maxx, Kroger?s, Starbucks, Verizon, and ChaseNew Construction with High-End Finishes - Newer construction should limit a new owner?s exposure to capital repairs during the hold period - Cross parking with shopping center provides ample parking
