Princess Anne Marketplace - Medtail

Jones Lang LaSalle ("JLL") is pleased to present the opportunity to acquire Princess Anne Marketplace Medical Strip – a 14,720 square foot shopping center in Virginia Beach, Virginia - Shadow Anchored by Target and Featuring a Dunkin’ Drive-Thru.

The Property is 100% leased with 6.7 years of WALT and is located within a larger shopping center shadow anchored by a 111,966 square foot Target. The Property has upside through future rent increases due to current below market rents.

The Property contains three tenants: Ivy Rehab, Jackson Hewitt Tax Service, and Acredale Animal Hospital. The Property also presents the opportunity to add value by re-tenanting Jackson Hewitt who has term through Dec-28 at $24 PSF and no remaining options, enabling conversion to a fully medical-focused strip.

The Property is situated at the heavily trafficked intersection of S Independence Blvd and Princess Anne Rd, providing access to 75,000 vehicles per day. Endorsed by strong surrounding retail presence, the Property is located in a high-performing retail node in Virginia Beach. Located in the Hampton Roads MSA, the Property is situated in a stable market supported by the United States Navy and The Port of Virginia.