2844 Jefferson Davis Hwy
Stafford, VA 22554
Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the ground leased interest in this Ruby Tuesday in Aquia, Stafford County, Virginia, the sixth wealthiest county in the United States. The property is located in a market known as the Fredericksburg Region having a current population of approximately 340,000 and ranked as the fastest growing area in Virginia and amongst the fastest growing region nationally. The high rate of growth is projected to continue and exceed 560,000 by 2030. The Tenant, Ruby Tuesday Inc., recently exercised the first of two 10-year option renewals effective February 2017 at contract rent. The corporately guaranteed ground lease features an attractive 15% rental increase every five years uniquely. Publicly traded (NYSE RT ), Ruby Tuesday, Inc. owns, operates and franchises over 629 locations nationwide and generated over $1.13 Billion in revenue in 2015. Ruby Tuesday has operated here for more than 20 years and at present, the Tenant' s rental rate is estimated to be 10-to-20 percent below current market rates. To an investor' s benefit, this pad is in the path of progress with the planned redevelopment of the Aquia Town Center. The Subject Property is prominently positioned as an entrance pad to Aquia Town Center, a 160,000-square-foot commercial redevelopment just east of Interstate-95 at Exit 143, Garrisonville Road. This pad will be anchored by a 70,000-square-foot Harris Teeter and junior anchors Rite Aid and Petco among others. Inline rental rates for the newly redeveloped Town Center should exceed $40-per-square-foot and draw immense traffic and boost the Tenant' s business. Adjoining the redevelopment is a 256-unit Class A Luxury apartment complex, located immediately behind the property. The Tenant stands to benefit from the significant improvements that will be made to the Center' s entrance including new monument signage, but more significantly the strong draw that this cluster of new retail will provide in tandem with the new apartments.