US - Lubbock, TX
IDR 151,312,970,000 | 6,548 m²
JLL Capital Markets is pleased to offer for sale Plaza America, a Whole Foods anchored shopping center in Reston, Virginia (Washington, D.C. MSA). The 164,232 square foot asset features a well-curated mix of national and credit tenants including Total Wine, CVS, Michaels, Starbucks and Macedon, a industry leading technology company. Located directly on the Dulles Toll Road (107,700 VPD), Plaza America is ideally-situated in the heart of Reston – the East Coast’s most exciting information technology job market and the epicenter of the cloud computing revolution.
Built in 1995, Plaza America has become the “go-to” surface-parked shopping center in the Reston community. Average tenant tenure across the Property stands at 15 years — demonstrating the asset’s prime position in a tight retail submarket — while weighted-average remaining lease term of 6 years provides stable near-term cash flow. Additionally, the Property’s long-term development potential on its 12.7 acres provide a variety of business plans and exit strategies in a vertically growing Reston commercial market.
• Northern Virginia's premier open-air shopping center anchored by Whole Foods Market
• Tremendous upside through lease up of existing vacancy and multiple mark-to-market opportunities amongst select tenants
• Flagship real estate in a growing submarket - 1.6M+ SF of office space under construction, 784K SF of office space absorbed YTD 2022 and 2,500+ apartments in the pipeline or delivered since 2021
• Institutional quality demographics - over 108,000 people live within 3-miles generating nearly $174,000 in household income and a daytime population of over 130,000 people
• Transit oriented location on Dulles Toll Road and walking distance to Wiehle-Reston East Metro Station and Reston Town Center Metro Station (opening this Summer)
• Long-Term Development Potential