Description

Jones Lang LaSalle is pleased to exclusively present Christiansburg Marketplace, a premier 164,933-square-foot grocer-anchored shopping center strategically positioned in the Blacksburg-Christiansburg retail trade area.

This institutional-quality asset combines immediate cash flow stability with compelling value-add opportunities. Following a comprehensive 2018 redevelopment and strong leasing momentum in 2021, the center has achieved 92% occupancy with an investment-grade tenant roster and 8.1 years of weighted average lease term remaining. The property’s approximately 70,000 square feet of undeveloped land provides significant expansion potential to capture additional rental income and drive long-term NOI growth.

Located just five miles south of Virginia Tech’s main campus and three miles north of downtown Christiansburg with direct I-81 access, the center serves an affluent, educated consumer base of over 40,000 students and university employees alongside the region’s established residential population. Commanding a dominant location between I-460 and North Franklin Street, the property generates visibility from 80,000 vehicles daily—among the highest traffic counts in the market.

Christiansburg Marketplace represents an attractive opportunity to acquire a recently renovated, stabilized grocery-anchored center with multiple paths to value creation through strategic leasing, tenant mix optimization, and future development.

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