OFFERING MEMORANDUM FORMER KMART - REDEVELOPMENT OPPORTUNITY 210 W MERCURY BOULEVARD | HAMPTON, VA 23669 ™ LISTED BY BEN SNYDER SVP & SENIOR DIRECTOR DIRECT (216) 503-3607 MOBILE (614) 975-8822
[email protected] LIC # 2018002569 (OH) BROKER OF RECORD KYLE MATTHEWS LIC # 22602771 (VA) Hampton OFFERING MEMORANDUM FORMER KMART - REDEVELOPMENT OPPORTUNITY 210 W Mercury Boulevard | Hampton, VA 23669 04 | EXECUTIVE OVERVIEW 06 | PROPERTY OVERVIEW 11 | FINANCIAL OVERVIEW 13 | AREA OVERVIEW 3 SECTION I EXECUTIVE OVERVIEW 4 Hampton INVESTMENT HIGHLIGHTS OFFERING PRICE: $6,900,000 UNIQUE REDEVELOPMENT OPPORTUNITY CONVENIENT ACCESS » The Property offers an owner/user, value-add investor, or developer the » The Property is situated on Mercury Boulevard, a primary arterial road opportunity to purchase a former Kmart located in a dense and established running through Hampton with traffic counts of over 58,000 vehicles per retail corridor where there are significant barriers to entry and limited day. There are three points of ingress/egress, providing convenient access opportunities for new construction. to the Property. ESTABLISHED RETAIL CORRIDOR REDEVELOPMENT IN THE AREA » The Property is located in an established retail corridor. National retailers » A $60 million redevelopment is underway at the shopping center along within the immediate area include Target, Walmart, Lowe’s, Bass Pro Shops, Mercury Boulevard a little over one mile east of the Property. Formally BJ’s Wholesale Club, Big Lots, OfficeMax, Ross Dress For Less, Food Lion, known as Riverdale Plaza Shopping Center, but being renamed Riverpointe Party City, Petco, Petsmart, Marshalls, Burlington, AutoZone, Advanced Shopping Center, this was one of the first major retail centers constructed Auto Parts, Barnes & Noble, JC Penney, Floor & Décor, CVS, Aldi, Lidl, in the city.