Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace are proud to offer Richlands Mall (the “Property”), a grocery anchored multi-tenant neighborhood retail shopping center located at 2940 Clinch Street in Richlands, Virginia. Constructed in 1960 with additions completed in 1980, the Property consists of a single-story, ±129,433 SF building positioned on two parcels totaling ±17.298 acres. The Property offers abundant surface parking spaces, visibility from US-460, monument signage, and multiple points of ingress/egress. The Property is currently ±84% occupied by Grants IGA Supermarket, CVS, Rose’s, Subways, and several strong local tenants. The property benefits from strong historical occupancy with 85% of tenants at the Property over 10 years, several tenants over 15 years including Rose’s and CVS since 1980. The Property features a combination of national and local tenants and is co-anchored by Rose’s Department Store (±46% GLA), CVS (±7.86% GLA), and Grants IGA Supermarket (±20% GLA) with staggered expirations, expense reimbursements, contractual increases, and options. Clinch Valley Medical Center is currently negotiating a multi-year lease extension. The grocer, Grants IGA Supermarket, has been a tenant since 2008 and recently extended their lease through May 2028. The supermarket is part of a chain of 15 stores throughout Virginia and West Virginia. Grants IGA is part of the Independent Grocers Alliance (IGA) which was founded in 1926 and is the largest independent grocery chain in the world. The medical tenant is a satellite office of Clinch Valley Health and part of LifePoint Health, a national provider of healthcare services operating over 89 hospitals in 30 states. Richland Mall is within a primary retail corridor including McDonald’s, Dollar General, Big Lots, Wendy’s, Huddle House, Burger King, Food Lion, and more. The vacant suite offers investors immediate value add via vacancy absorption with a strategic long-term retailer. Richlands is a town in Tazewell County, Virginia and located approximately 150 miles west of Roanoke. The Property is ideally positioned with access and visibility along Gov. G. C. Peery Highway (US-460) with traffic counts of 12,989 vehicles per day. The Property is located across a signalized intersection from Clinch Valley Health, a 175-bed acute care hospital. The Property benefits from an expanded trade area with ±22,489 people and an avg household income of ±$52,787 within a 10-mile radius.