Pinnacle Bank – Salem, VA
8 East Main Street, Salem, VA, 24153, US
THB 108,100,000 | 629 m²
Attributes
Building area net
6,275 m²
Occupancy
100%
Year built
1997
Description
JLL is pleased to present the opportunity to acquire Kroger Plaza, a 67,540 SF grocery anchored retail investment opportunity located in Virginia Beach, VA. The center features a highly secure income stream, with strong growth characteristics and sustainable / below market shop rents averaging ~$21 PSF. Kroger offers investors a rare long-term opportunity to increase base rent by nearly 900% and currently operates on a durable 0.4% occupancy cost.
Please reach out to the deal team to learn more about this opportunity.
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Investment Highlights
- Kroger anchored investment offering with significant long-term upside
- Hilltop submarket - Virginia Beach's prime retail destination
- Affluent and dense customer base with ~$130K+ AHHI & 140K residents within a 5-mile radius
- Deep discount to replacement cost & exceptional basis
- Limited deferred maintenance
- Substantial economic activity via US Department of Defense (~$68B Annually)
Media
Kroger Plaza (0 Properties)
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Last updated
8 Oct 2025