Towne Square_Property for Sale
Towne Square_Property for Sale

Towne Square

1283 Towne Square Boulevard Northwest, Roanoke, VA, 24012, US

Description

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.

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Attributes

Building area net
27,790 m²
Occupancy
93%
Year built
1987

Media

Investment Highlights

  1. Market-Dominant Shopping Center with 5.3M Annual Visits - Boasting the Most Visits of Any Shopping Center within a 30-Mile Radius
  2. Market Exclusive Tenancy of National Retailers Draws Foot Traffic from Outsized Trade Area
  3. Premier Location and Accessibility with Adjacency to the Roanoke-Blacksburg Regional Airport and I-581 (58,000 VPD)
  4. Investment Grade Credit Tenancy with 93% of Rental Revenue Derived from National Tenants
  5. Triple Shadow Anchored by 3 Highly Trafficked National Retailers - Sam's Club, Lowe's, and Kroger
Towne Square 4_Property for Sale
Towne Square 4_Property for Sale

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Towne Square (0 Properties)

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Last updated
31 Jul 2025