deal image
14670 Gap WayGainesville, VA 20155
Greenhill Crossing
Asset ClassRetail
overview of deal

Overview

KLNB Retail Capital Markets is pleased to present the fee simple interest in Greenhill Crossing, a fully occupied, 12,075 SF retail center located in Gainesville, Virginia. The property is tenanted by 3 destination retailers: United States Postal Service, DaVita (NYSE:DVA), and Hope Cleaners, all of which have been at the center since construction in 2006 with no near-term lease expirations prior to 2030. Cash flow appreciation can be realized through contractual rent increases, mark-to-market rents, and additional expense recapture. With a majority of the income contributed by credit tenants USPS and DaVita, and a lack of retail supply in the submarket, Greenhill Crossing is poised for long term rent growth and asset appreciation.

Investment Highlights

  • Fully occupied center with strong credit - 85% of the GLA and 86% of the base rent contributed by corporate guaranties
  • All tenants have been in occupancy since construction in 2006
  • Average household income of $202,317 within a 3-mile radius, with income levels expected to grow 1.83% annually through 2031
  • Upside in base rent increases, mark-to-market rents, and expense recapture
  • Located within a supply-constrained retail trade area with only one competing retail center in a 0.5-mile radius
  • Centrally located along I-66 and only 36 miles from Washington, D.C., 74 miles from Baltimore, MD and 105 miles from Richmond, VA

Demographics

1 Mile
3 Mile
5 Mile
Total Population
12,975
56,882
87,597
Avg Household Income
$177,695
$202,317
$210,204
Avg Household Income Growth
2.48%
1.83%
1.79%
deal gallery image
deal gallery image
deal gallery image
14670 Gap WayGainesville, VA 20155

Inquire

Listing provided by LightBox Revere