Jefferson Strip Center

Adjacent to the Patrick Henry Mall along Jefferson Avenue.We are pleased to offer 12266 Jefferson Ave, a stabilized credit tenant strip center with excellent visibility, long-term leases in place and anchored by Patrick Henry Mall in the city of New Port News, VA. This is a syndicated investment opportunity. The property is 100% Leased Triple Net (NNN) with (4) Four Credit Tenants, averaging 2.5% yearly rent increases and contractual term renewals ahead with additional bumps. Vitamin Shoppe & T Mobile have been in the building since constructed (2004) and have strong financials that support future long-term tenancy backed by a consistent customer base. Three Tenants have 5 year options coming up within the next four years. 12266 Jefferson Ave takes advantage of the huge marketing budget of the Patrick Henry Mall that draws attention to the property from its location between the main traffic thruway, Jefferson Avenue, and the mall. Tenants at the property have benefited from a customer base that enjoy ease of access by its proximity to shops and highways. Occupancy remained stable throughout the pandemic as a testament to tenants customer base. New Port News is home to the headquarters for Canon, Virginia and Jefferson Labs, Fort Eustis, Langley Air-force base and the U.S. Department of Energy laboratories. The local community includes commercial corridors, industrial areas, and an array of residential communities. The Patrick Henry Mall is the largest mall on the Virginia Peninsula with more than 120 specialty stores and post pandemic business growth that has outpaced the majority of malls across the country.