1851 Merchant Ln
Hampton, VA 23666
Floor & Decor and SkyZone | 10yr Corp Lses · Hospitality Property For Sale · 97,908 SF

The subject property is located along Executive Drive at the southeast corner of Interstate 64 and Cunningham Drive/State Highway 152 with over 194,000 combined vehicles passing by daily. The property features excellent visibility from Interstate 64 and features multiple points of ingress/egress along Executive Drive. Specifically, the Floor & Decor and Sky Zone are located within the Peninsula Town Center, an open air mixed-use development located in the Coliseum Central Business district of Hampton, VA. Previously known as the Coliseum Mall, the center was demolished and redeveloped in 2008 and is currently anchored by JCPenney, and a new Target store. Peninsula Town Center features approximately 876K SF of retail space, 115K SF of office use, residential spaces, and several landscaped parks. Floor & Decor and Sky Zone are part of this redevelopment project and will benefit from the new commercial growth and increased consumer traffic to the center. The trade area is also identified by the Hampton Coliseum and Hampton Roads Convention Center less than 1 mile south. The Coliseum is a multi-purpose arena that seats 13,800 and hosts major concerts, wrestling, circuses & more. The subject property benefits from the dense commercial corridor which features other national/credit tenants such as a 24-hour Walmart Supercenter, Lowe’s, Burlington, The Home Depot, Bass Pro Shops, Marshalls, Ross Dress for Less, Kroger, At Home, Michaels, Goodwill, and more, further increasing consumer traffic and promoting crossover shopping. The asset is also less than half a mile from a number of apartment complexes; Bridgewater on the Lake (499-units), Marcella at Town Center (327-units), and Waterford Pointe (121-units), and more, providing a direct consumer base from which to draw.The 5-mile trade is supported by a population of nearly 201,000 with an average household income of $64,000.