Property tours are available by appointment only. Please contact Catharine Spangler to schedule a tour at 804-344-7140 or catharine.spangler@thalhimer.com. Ten-X.com in conjunction with Cushman & Wakefield Thalhimer is pleased to offer for sale Lexington Commons (“The Property”) – a lender owned, 21,857 SF unanchored retail strip center located along Richmond, Virginia’s most active retail corridor. The Property is currently 100% leased to 15 regional and local tenants, featuring attractive triple net lease structures and in-place rents averaging $1.96/SF below market. Originally constructed in 1991, the Property is ideally situated on ±2.68 acres with unbeatable visibility and signalized access from bustling West Broad Street. The asset is proximate to major Virginia interstates, I-64, I-295 and Route 288 and is less than half a mile away from the entrance to the region’s largest corporate office center – Innsbrook Corporate Park. With over seven million square feet of office space, the park adds over 50,000 employees to the area’s daytime population, complementing the strong demographic profile of the affluent Glen Allen and Short Pump neighborhoods to the North and West. Over 190,000 people with an average household income of $103,188 live within a five mile radius of Lexington Commons. Upside exists through “right-sizing” base rental rates of new and renewing tenants, as well as through significant rental bumps in the near term of existing tenants. Lexington Commons represents a rare opportunity to acquire a well-maintained, stabilized retail asset with upside potential and minimal risk in Richmond, Virginia’s strongest retail trade area.
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Retail Space
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