Towne Square

Jones Lang LaSalle, as exclusive advisor, is pleased to present the opportunity to acquire Towne Square - a 299,134 square foot grocery-anchored power center located in Roanoke, Virginia. The Property features an impressive roster of national tenants and a proven history of tenant retention – 2 of the largest 3 tenants have 20+ years tenure and the property collectively has an average tenant tenure of 11.6 years. The Property’s 7 largest occupants, all national retail chains, account for 60% of the total leasable space and generate over 55% of rental income. The Offering is complimented with prominent shadow anchors – Sam’s Club, Lowe’s, and Kroger – drawing additional foot traffic to the Property.

Towne Square draws the most visits of any shopping center within a 30-mile radius with 5.3M annually, ranking in the 96th percentile nationally. The Property’s dominant market positioning is further underscored with its proven history of successful box releasing, recently evidenced by new tenants - National Anchor Tenant (At Lease), HomeSense, and US Foods Chef’Store - the $5,000,000+ spent in tenant improvements over the past 3 years demonstrates Towne Square’s commitment of remaining atop the Roanoke Market.