This Retail Property is Off-Market.

4020 Victory Boulevard
Portsmouth, VA 23701 ·

106,603 SF · Retail For Sale

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Victory Crossing

Price N/A Cap Rate 7.13%
Gross Leasable Area 106,603 SF Occupancy 100%
Property Type Retail Tenancy Multiple
Property Sub-type Neighborhood Center Year Built 2003
Property Use Type Investment Lot Size 9.48 AC
Listing ID: 14752555 Date Created: 08/16/2006 Last Updated: 08/30/2006

Description

Victory Crossing is a newly constructed 106,603 SF supermarket anchored shopping center located within the 500 acre Victory Crossing Mixed-Use Development. The offered property includes a Farm Fresh supermarket (SUPERVALU - $4.75 Billion Market CAP), Simply Fashion, Payless ShoeSource, SunTrust, UPS, Jackson Hewitt, and Rent A Center as major tenants.

The retail portion of the Mixed-Use Development is a 500,000 SF, 51-acre power center located adjacent to Interstate 264 in Portsmouth, VA, and anchored by Lowe's, Farm Fresh (SUPERVALU), and A.J. Wright. Other tenants include Dollar Tree, Payless ShoeSource, and EB Games, while outparcel users include Bank of America, Hollywood Video, and Wendy's.

The Subject Property is located in Portsmouth, VA, a suburb of Norfolk. The property is just 15 minutes from Norfolk International Airport and only 20 minutes from both Virginia Beach and Newport News. The Norfolk / Virginia Beach / Newport News MSA has over 1.6 million residents with an average household income of nearly $57,000. The property benefits from its prominent location at the convergence of major traffic arteries I-264, U.S. Route 58, and State Road 239. Many major national retailers have chosen to set up shop in Victory Crossing, including anchors Lowe's, A.J. Wright and Farm Fresh (SUPERVALU). Other major tenants of the power center include Dollar Tree, Payless, EB Games, and Hollywood Video.

Highlights

  • Supermarket Anchored (included)
  • 100% Occupied
  • Excellent Credit - 73% National/Regional Tenants
  • 1,600 Homes and New College Campus Planned within .5 - 1 mile
  • Power Center Serving the Norfolk / Virginia Beach / Newport News MSA with over 1.6 million residents

Research

4020 Victory Boulevard, Portsmouth, VA 23701 (Portsmouth City County)

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