Overview
Avison Young’s U.S. Capital Markets Group, the exclusive advisor to the Owner, is pleased to present the opportunity to acquire 5900 Kingstowne Village Parkway (the “Property”). The Property comprises 88,288 square feet of Class A retail located at the center of the 1.5 million square foot Kingstowne Towne Center, the hub of Virginia’s second-largest planned urban development (PUD), anchored by two dominant grocers: Giant and Safeway.
The Property is 100% leased with over six years of remaining WALT, situated in the heart of Kingstowne’s walkable town center campus. The combination of two grocery anchors on adjacent parcels, alongside a captive office tenant community, has been the driving force behind the Property’s durable cash flow and sustained occupancy, which has remained nearly 100% leased for the past decade.
Investment Highlights
Second most visited shopping center in Virginia, visitations have increased by 47% since Q1 2020
Durable in-place cash flow supported by 6.21 years of weighted average lease term
100% Leased to eight tenants with diverse profiles: a fullservice restaurant & bar, a nationally recognized yoga studio, an RPX-enhanced cinema, an internationally growing group fitness concept, and four diverse fast casual restaurants
The Property serves as Kingstowne’s primary destination for dining and entertainment, located within a 5-minute drive of over 38,000 residents and an average household income exceeding $160,000
The only structured parking facility in the entire towne center with 494 lined spaces, maintained to the highest standards
First in line to service residents from 646 soon-to-be-constructed class A multifamily units directly in front of the Property
