Thursday, May 18, 2006

TIC Investment Opportunity: Volvo Parkway - 1401 Tintern Street Chesapeake, VA 23320

Volvo Parkway - 1401 Tintern Street Chesapeake, VA 23320

Property Information:

  • Property Name: Volvo Parkway
  • Rentable SqFt: ± 4,979.00
  • Purchase Price: $2,150,000.00
  • Price per SqFt: $431.81 /sqft
  • Percent Occupied: 100.00%
  • Type: Ground Lease
  • Minimum Purchase: $100,000.00

Property Description:
The Property is 1.418 acres and is located within the Hampton Roads Metropolitan Statistical Area. The site is leased under a longer term lease to Silver Diner Development, Inc, a theme restaurant chain located in the northeast United States. A 4,979 square foot restaurant building has been erected on the site.

Top Tenants by Total Rent:
The tenant had approximately $40MM in net sales during 2004 and a net worth over $10MM. The tenant has been operating restaurants since 1989 and now has 15 locations with approximately 1,000 employees. The Property is located in the heart of Hampton Roads amidst some of the strongest national retailers. The immediate neighbors include Home Depot, Lowe's and Walgreens – all three great demand generators -- and there is good daytime population in two surrounding office parks.

Please contact me for a full marketing brochure and further information regarding this investment.

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