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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1991
Occupancy 100.0 %

Property Description

The Property is a member of the Virginia Center Commons, which is a mall occupied by nationally recognized tenants such as JCPenney, Burlington Coat Factory, Kay Jewelers and Victoria’s Secret, driving customers to the area.

Investment Highlights

Holliday Fenoglio Fowler, L.P. (“HFF”) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a fee simple interest in a single tenant property leased to American Family Fitness (the “Property”) in Glen Allen, VA. American Family Fitness is locally owned and operated and has nine locations throughout central Virginia. They have been at this location since 2014 and have 10 years remaining on their lease with rental increases in the primary term. The Company offers an array of membership plans to its customers and provides athletic courts, pools, gyms and yoga studios in their locations. Being just fifteen minutes from Richmond, VA, which has a population of over 1 million people, the location attracts customers from both the city and the suburbs. This population density is attractive, especially due to the fact that the 100,000+ people that live within a 5 mile radius of the Property earn, on average, about $100,000 per year. Additionally, American Family Fitness is surrounded by nationally recognized tenants such as: JCPenney, Burlington Coat Factory, Kay Jewelers and Victoria’a Secret, driving customers to the area.
Jordan Lex
Jordan Lex
Senior Director, Capital Markets
License details
DC-SP98373803 MD-647016 VA-0225189318

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