Overview
Stoneybrook Shopping Center is a well-located, neighborhood retail center in Newport News, Virginia, anchored by Food Lion, which recently executed a new long-term lease extension. Food Lion’s above average sales and low health ratio, reinforced Food Lion’s long-term commitment to the center and providing durable cash flow.
The property is currently 89% occupied, with three suites available offering meaningful upside through lease-up. Stoneybrook serves a dense residential trade area with consistent daily-needs traffic driven by the grocery anchor and surrounding service-oriented tenants. The combination of a stable anchor, in-place income, and near-term value creation through leasing positions the center as an attractive opportunity for investors seeking defensive retail with growth potential.
Investment Highlights
Grocery-Anchored Stability with Strong Fundamentals
- Food Lion health ratio below 2% with sales exceeding $617 PSF
- New Food Lion 10-year early renewal/extension
- Food Lion and other national tenants make up almost 50% of rental revenue
- WALT over 6 Years
- 26-Year Weighted Average Tenure
Region’s #1 Grocery Market Share Leader
- Food Lion has consistently maintained over 41% of the region's grocery market share
Attractive Occupancy with Upside
- Three suites, totaling 8,000 SF, provide immediate value-add totaling over $165,000 in revenue upside
- Mark-to-market opportunities provide an additional $31,000 in upside over a 5-year period
- 5-Year CAGR over 6%
Daily-Needs Retail Mix
- Tenant mix comprised completely from essential daily-needs operators
Close Proximity to Major Military Base
- Fort Eustis Army Base is less than 1-mile from the Property
- Hosts over 5,000 active-duty soldiers and approximately 4,200 civilian personnel. As a key component of Joint Base Langley-Eustis, it serves as the home to major commands such as the Army Training and Doctrine Command (TRADOC) and the 7th Transportation Brigade
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