845 Village Blvd. Abingdon, 24210

Single Tenant Solutions

Subject Photo SINGLE TENANT INVESTMENT OFFERING • DELHAIZE AMERICA, INC. LEASE U. S. SUBSIDIARY OF DELHAIZE, N.V. • INVESTMENT GRADE CREDIT RATING • FULL REIMBURSEMENT FOR TAX AND INSURANCE • ALL CAM CURRENTLY PAID BY TENANT • CONSISTENTLY INCREASING STORE SALES

For additional info, please contact Barry Silver Listed in conjunction with: The Silver Group Email: [email protected] Christopher R. Gentry, SIOR www.thesilver-group.com Gentry Commercial Real Estate, Inc. Phone: (415) 461 - 0600 License No. VA 0225033997 Investment Summary - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

Single Tenant Solutions

($126.56 psf) Our Offering is a single tenant Food Lion Grocery Store located at 845 Purchase Price: $4,280,000 Village Boulevard in Abingdon, Virginia. The Property was constructed Initial Cap Rate: 7.35% (with $0.20 psf reserve) in 2000 and consists of a ± 33,816, building on ± 4.5 acres of land within the Colonial Square Shopping Center at the intersection of Lee Lease Terms: Highway and Porterfeld Highway SW. The building can be expanded by an additional 10,960 sf. Lee Highway is the major commercial artery through • Term has been extended through January 2026 the city of Abingdon. Abingdon is located in the southwestern corner of • Landlord is responsible for roof, structure the state, approximately 16 miles northeast of the Virginia / Tennessee • Current CAM’s are fully reimbursed border. The original twenty year lease is executed by Food Lion’s parent company, Delhaize America, Inc., operator of 2,000 grocery stores and • Property Tax and Insurance are fully reimbursed distribution centers across 23 states under the banners Food Lion, GIANT, • Percentage Rent If 1% of Gross Receipts exceed Hannaford and Stop&Shop. Delhaize America, Inc. is the United States Base Rent in any lease year subsidiary of based grocer N.V. (BBB credit rating). Food Lion has exercised the frst of four, 5 year renewal options • Three x 5 year renewal options extending their term through January 2026. Reported store sales have Annual Base Rent: steadily increased over the last several years from $6,072,023 in 2017, to $6,344,382 in 2018 and then to $6,758,944 in 2019. Some of the nearby $321,300 Commencing February 1, 2021 traffc generators include Walgreens Drugstore, Holston Medical * If a sale occurs before rent increase on February 1, 2021, Buyer will Group, Sherwin Williams Paints, Napa Auto Parts, BB&T Bank, First receive a rent credit for the difference. Bank & Trust, Dairy Queen, Tokyo Steak House and Virginia ABC. Option Rent Schedule: Land Area: ± 4.5 Acres * with 180 days prior notice $336,600 Option 2 Building Area: ± 33,816 SF $351,900 Option 3 3 miles 5 miles $367,200 Option 4 Population: 11,091 19,143 Rent Commencement: January 24, 2001 Avg. HH Income: $64,820 $66,771

The information contained herein has been received from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness and make no representation thereto. The above is subject to errors, omissions, or withdrawal from . All prospective investors are advised to conduct their own due diligence.

The Silver Group • Phone: (415) 461 - 0600 Income & Expenses - Food Lion Grocery Store 845 Village Blvd. Abingdon, Virginia 24210 Single Tenant Solutions

Original Lease Term 1/24/2001 through 1/23/2021 Current Lease Expiration January 23, 2026 Renewal Options Remaining Three Building Size ± 33,816 SF Building Expansion Area ± 10,960 SF rrata are f CAM’s

Annual Gross Income $321,300 ($9.50 / sf) Taxes NNN Insurance NNN Common Areas (1) NNN Reserves ($0.20 psf) $6,760 Net Operating Income $314,540

(1) Common Area Maintenance is handled by the shopping center owner. Tenant reimburses Landlord for Annual CAM Fee up to $21,980.40. This limit increases every 5 years along with the rental increases. Currently all CAM expenses billed to Tenant are fully reimbursed. Please verify in Lease.

The Silver Group • Phone: (415) 461 - 0600 Land Survey - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

Single Tenant Solutions

The Silver Group • Phone: (415) 461 - 0600 Colonial Square Shopping Center - Food Lion Grocery Store 845 Village Blvd. Abingdon, Virginia 24210 Single Tenant Solutions

The Silver Group • Phone: (415) 461 - 0600 Aerial View - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

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The Silver Group • Phone: (415) 461 - 0600 Distance Map - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

Single Tenant Solutions

± 225 miles

± 130 miles

± 16 miles

± 138 miles ± 128 miles

± 110 miles

± 154 miles

The Silver Group • Phone: (415) 461 - 0600 About The Tenant - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

Single Tenant Solutions

DELHAIZE AMERICA, INC.

What started as two family-run grocery stores almost 150 years ago is now one of the world’s largest food retail groups, a leader in and e-commerce, and a company at the forefront of sustainable retailing. Our family of great local brands today serve more than 50 million shoppers each week. It all started in 1867 when the Delhaize brothers opened a wholesale grocery business in , and chose the lion, the symbol of strength, as their logo. Twenty years later in the Netherlands, and his wife opened a small grocery store in Oostzaan that would form the roots of Ahold. Albert Heijn advertised his goods as “cheap enough for the man on the street and good enough for the millionaire.” Innovation has been part of our DNA since the beginning. The Delhaize brothers and Albert Heijn pioneered the use of their own branded products – from biscuits and coffee to wine and peanut butter – and introduced the concept of self-service, low mark- up shopping to a wider audience. And the founders and leaders of our local brands – again and again – have turned change and challenges into major opportunities for success. From using trains to reduce transport time for fruits and vegetables to the introduction of the bar code, from self-scanning checkout lanes and groundbreaking e-commerce to the first iPhone app for self-scanning, discounts and rewards, Ahold Delhaize believes that improving the shopping experience for customers is something that never ends. In 2016, Ahold and combined forces to become a world-leading food retail group dedicated to helping customers shop anytime, anywhere and in any manner – in-store and online. The collective heritage and shared values that brought us together continue to guide our ambition to help our customers, communities and colleagues eat well, save time and live better.

Company Type: Locations: , Georgia, Kentucky, , North Carolina, , South Carolina, Tennessee, Virginia and West Virginia Website: https://www.aholddelhaize.com The Silver Group • Phone: (415) 461 - 0600 About The Area - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

Single Tenant Solutions

ABINGDON, VIRGINIA Abingdon Virginia is a town in Washington County and a two hour drive southwest of Roanoke and 16 miles northeast of the Virginia / Tennessee border. Located in the Blue Ridge Mountains, Abingdon is the county seat of Washington County. The town encompasses several historically signifi- cant sites and features a fine arts and crafts scene centered on the galleries and museums along Main Street. Abingdon is part of the Kingsport, Bristol (TN) - Bristol (VA) Metropolitan Statistical Area, which is a component of the Johnson City, Kingsport, Bris- tol, TN - VA Combined Statistical Area commonly known as the “Tri-Cities” region. Estimated population of the Tri Cities is approximately 500,000 residents. The Town of Abingdon was established by an act of the Assembly of Vir- ginia in 1778. Two short years later, Abingdon played a role in helping the young nation gain its independence. Patriots from Virginia and North Caro- lina gathered at the Muster Grounds to begin a 300-mile march to Kings Mountain, South Carolina. The ensuing battle was a turning point in the Revolutionary War. In 1860, Martha Washington College opened in a former private residence in Abingdon. The college closed in 1932, but the grand building affection- ately known as “The Martha” re-opened as a hotel in 1935. The Virginia Creeper Trail is one of the most famous trails on the East Coast, popular with people of all ages for its breathtaking scenery, and gentle downhill ride. The trail is so much more than a bike trail, however, full of native flora and fauna, rich history, and unexpected places to eat and drink. Start your ride at Mile Marker Zero in Abingdon, VA. The Virginia Creeper Trail begins in downtown Abingdon, running 34.3 mile southeast and ending at the North Carolina border.

The Silver Group • Phone: (415) 461 - 0600 Demographics - Food Lion Grocery 845 Village Blvd. Abingdon, Virginia 24210

Single Tenant Solutions

Site Selection July 30, 2020

Demographic Snapshot Comparison Report for Food Lion Grocery, 845 Village Blvd, Abingdon, VA, 24210:

1 mile(s) 3 mile(s) 5 mile(s)

Population: 2019 Total Population 2,477 11,091 19,143 Female Population 53.46% 53.25% 51.56% Male Population 46.54% 46.75% 48.44% Population Density 788 392 244 Population Median Age 45.8 47.9 46.7 Employed Civilian Population 16+ 1,194 5,528 9,572 % White Collar 67.8% 70.0% 66.6% % Blue Collar 32.2% 30.0% 33.4% Total Q3 2019 Employees 2,427 8,670 12,723 Total Q3 2019 Establishments* 255 913 1,174 Population Growth 2000-2010 -8.57% 7.74% 15.28% Population Growth 2019-2024 -2.53% -1.49% -0.96% Income: 2019 Average Household Income $59,472 $64,820 $66,771 Median Household Income $47,672 $49,934 $51,125 Per Capita Income $29,224 $29,681 $30,008 Avg Income Growth 2000-2010 23.34% 20.88% 27.30% Avg Income Growth 2019-2024 15.79% 15.92% 16.10% Households: 2019 Households 1,197 5,010 8,378 Average Household Size 2.09 2.14 2.23 Hhld Growth 2000-2010 -2.42% 11.89% 16.25% Hhld Growth 2019-2024 -1.03% -0.62% -0.36% Housing Units: 2019 Occupied Units 1,197 5,010 8,378 % Occupied Units 89.75% 90.64% 90.29% % Vacant Housing Units 10.25% 9.36% 9.71% Owner Occ Housing Growth 2000-2010 -15.78% 5.35% 10.54% Owner Occ Housing Growth 2000-2024 -17.37% 3.61% 9.82% Owner Occ Housing Growth 2019-2024 -0.76% -0.40% -0.11% Occ Housing Growth 2000-2010 -2.42% 11.89% 16.25% Occ Housing Growth 2010-2024 -2.83% -2.14% -1.61% Occ Housing Growth 2019-2024 -1.03% -0.62% -0.36% Race and Ethnicity: 2019 % American Indian or Alaska Native Population 0.18% 0.16% 0.23% % Asian Population 0.75% 0.87% 0.83%

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