JLL Capital Markets is pleased to exclusively offer for sale Colonial Square, a high-volume Publix-anchored shopping center with a WALT of 8.1 years, as well as significant upside from below-market rents and a potential drive-thru pad site opportunity. The Publix located at the Property boasts the highest sales volumes for the chain in Virginia, driving tremendous shopped traffic as evidenced by the 1.11 million annual store visitors tracked by Placer.AI.
- Dominant grocery anchor with 1.5% health ratio in 2020
- New-to-market home improvement junior anchor Locke Supply opening in July
- 8.1 years of WALT and 17.4 years of average tenant tenure
- Rents 21% below market
- Lack of nearby full-format supermarket competition creates an amplified trade area reaching over 79,000 consumers