4173-4179 Plank Rd, Fredericksburg, VA 22407
The subject property is a 102,000 square foot retail center anchored by Tractor Supply Company and an Aldi grocery store. The property has two points of ingress/egress along Plank Road, both of which are signalized intersections. The center provides two very strong anchor tenants. Tractor Supply Company operates over 1,900 locations nationwide and has nine years remaining on their lease with one five-year option remaining. Tractor Supply reported a 31% increase in year-over-year sales for Q3 2020 and was just upgraded to investment grade credit. Aldi operates over 1,400 locations and recently executed an option extending their lease five years with three five-year options remaining. The third tenant, Paragon Gymnastics, has seven years remaining on their lease with two five-year options remaining. All leases are NNN with minimal landlord responsibilities. The property benefits from a very strong retail corridor along Plank Road, which provides exposure to over 59,000 vehicles daily. The property is part of the Chancellor Shopping Center, which also houses CVS, AutoZone, Food Lion, PNC Bank, HobbyTown USA, and a variety of smaller tenants. Other Immediate retailers include Anytime Fitness, 7-Eleven, Wells Fargo, Advance Auto Parts, Rite Aid, BJ’s Wholesale, Bed Bath & Beyond, Kmart, Taco Bell, Dunkin Donuts, Starbucks, Red Lobster, Michaels, Home Goods, Lowe’s, Pet Smart, Best Buy, Office Depot, Target, and many others. The surrounding area shows strong demographics with a population over 115,000 and an average household income of over $103,000 in a five mile radius.
The subject property is a 102,000 square foot retail center anchored by Tractor Supply Company and an Aldi grocery store. The property has two points of ingress/egress along Plank Road, both of which are signalized intersections. The center provides two very strong anchor tenants. Tractor Supply Company operates over 1,900 locations nationwide and has nine years remaining on their lease with one five-year option remaining. Tractor Supply reported a 31% increase in year-over-year sales for Q3 2020 and was just upgraded to investment grade credit. Aldi operates over 1,400 locations and recently executed an option extending their lease five years with three five-year options remaining. The third tenant, Paragon Gymnastics, has seven years remaining on their lease with two five-year options remaining. All leases are NNN with minimal landlord responsibilities. The property benefits from a very strong retail corridor along Plank Road, which provides exposure to over 59,000 vehicles daily. The property is part of the Chancellor Shopping Center, which also houses CVS, AutoZone, Food Lion, PNC Bank, HobbyTown USA, and a variety of smaller tenants. Other Immediate retailers include Anytime Fitness, 7-Eleven, Wells Fargo, Advance Auto Parts, Rite Aid, BJ’s Wholesale, Bed Bath & Beyond, Kmart, Taco Bell, Dunkin Donuts, Starbucks, Red Lobster, Michaels, Home Goods, Lowe’s, Pet Smart, Best Buy, Office Depot, Target, and many others. The surrounding area shows strong demographics with a population over 115,000 and an average household income of over $103,000 in a five mile radius.
