Investment Overview

Marcus & Millichap is pleased to present 131 Jennick Drive in Colonial Heights, Virginia located in the TriCities Submarket with excellent access and visibility located on a signalized corner of Jennick Drive and Charles H. Dimock Parkway with a traffic counts of 12,586 vehicles per day. The property benefits from robust, dense demographics; the population within five miles of the site is over 97,691 with nearly 34,473 households and an average household income of over $70,334 within five miles. VCU Health Orthopaedics operates in a modern 12,024-square-foot facility situated on 2.54 acres, offering ample parking. The property is leased under a triple-net structure with 3% annual rental increases. Currently, 2 years and 3 months remain on the lease term, with three additional 3-year renewal options available. VCU Health, a trusted regional healthcare operator with 72 locations across Virginia, has earned strong credit ratings from Moody’s (Aa3) and Standard & Poor’s (AA-), reflecting its status as a low-risk investment. VCU Medical Center is highly regarded, ranking No. 1 in the Richmond metro area and No. 2 in Virginia in U.S. News & World Report’s 2023-2024 Best Hospitals rankings. Virginia Commonwealth University, a leading urban public research institution, enrolls over 30,000 students across 233 degree and certificate programs. Located in downtown Richmond, the university excels in arts, sciences, and humanities, offering 22 programs unique to Virginia. The VCU Health brand encompasses the university’s health sciences academic programs, the VCU Massey Cancer Center, and the VCU Health System. This includes VCU Medical Center (the region’s only academic medical center), Community Memorial Hospital, Children’s Hospital of Richmond at VCU, and MCV Physicians. The clinical network also features a partnership with Sheltering Arms Institute, specializing in physical rehabilitation services.