™ Offering memorandum PANDA EXPRESS 2031 COLISEUM DR | HAMPTON, VA CONTENTS 03 EXECUTIVE OVERVIEW 04 FINANCIAL OVERVIEW 12 TENANT OVERVIEW 14 AREA OVERVIEW LISTED BY Aron Cline SVP & Sr. Director DIRECT +1.949.432.4509 MOBILE +1.818.632.0233
[email protected] LICENSE NO. 01904371 (CA) Chad Kurz SVP & National Director LICENSE NO. 01911198 (CA) Calvin Short SVP & Senior Director LICENSE NO. 01927216 (CA) Josh Bishop VP & Director LICENSE NO. 688810 (CA) BROKER OF RECORD kyle matthews BROKER OF RECORD LIC # 22602771 2 EXECUTIVE OVERVIEW INVESTMENT HIGHLIGHTS • 20-year ground lease with approximately 15.5 years remaining on the primary term and Four (4), Five (5) year options to renew • The Panda Express building is high quality, recently built construction • Located as an outparcel to Peninsula Town Center, which is approximately 1.1M square feet with some of today’s hottest retailers (Target, Victoria’s Secret, Talbot’s, Chico’s, Forever 21, H&M, BWW, Chipotle, among others) • Located in the dominant retail hub of Hampton, VA • Strong retail corridor located at I-64 and Mercury Blvd, with traffic counts exceeding ± 200,000 VPD • 10% rental increases every 5 years - asset will appreciate in value • Peninsula Town Center is a mixed-use center that has over 150,000 SF of office space and hundreds of fully leased apartments, whose tenants shop and eat at the town center daily • Peninsula Town Center was built in 2008 and nearly 100,000 SF has been added to accommodate Floor and Decor • and Sky Zone. It is a successful shopping destination