9197 Atlee Rd
Mechanicsville, VA 23116
Wells Fargo | NNN (GL) | Annual Increases · Retail Property For Sale

Dallas Net Lease Realty is pleased to present the opportunity to acquire a Wells Fargo located in the city of Mechanicsville, VA, an affluent suburb of Virginia. The property sits at the intersection of Chamberlayne Road and Atlee Road, about 10 miles north of the city of Richmond. This Wells Fargo is located in Rutland Commons, a 110,000+ SF grocery anchored shopping center that opened in 2014. Wells Fargo is on a 20-year ground lease with over 9 years remaining. Following the initial term there are 4-5-year option periods. There are 2% annual rent increases in the prime term and in each option period. Wells Fargo is responsible for all maintenance and repairs, leaving the Landlord with zero responsibilities. The property sits at the opening of Rutland Community, a 200-acre HH Hunt mixed used development which has a total of 520 residential units and over 60,000 SF of retail space. Hanover county’s Atlee area has seen exceptional growth in retail development in the last few years. The county recently completed a $20M project which expanded Atlee Road to connect with Cool Spring Road and Atlee Station Road. This expansion will address anticipated growth in the corridor and is now the primary connection to Route 301. Wells Fargo is in a strong retail trade area with neighboring retailers including Kroger, Starbucks, Wawa, Verizon, Walgreens, AutoZone, Hanover Emergency Center, Valero, McDonalds, Dunkin Donuts, Subway, Popeyes, Bojangles’, Wendy’s, Burger King and many more.