Marcus & Millichap is pleased to present Twin City Shopping Center located at 705-717 S College Ave in Bluefield, Virginia. The subject is a 56,840-square foot, Neighborhood Shopping Center, built in 1985 and renovated in 2013, on approximately 9.2 ± acres of land. The tenant mix includes Aaron Rents (18%), Family Dollar (13%) and Wells Fargo credit on the USI lease (26%) as well as a host of nationally recognized tenants comprising over 75% of the center' s occupants. The bulk of the tenants have been at the center for extended terms. The current owner has recently completed a major renovation at the Center including interior spaces and facade totaling an amount approaching $400,000. In addition, Wells Fargo/USI is reported to have spent more than $700,000 on their space over the last few years. The landlord improvements include parking lot resealing and restriping, sprinkler replacements, roof repairs, facade and tenant improvements.
Marcus & Millichap is pleased to present College Plaza, a 62,461 SF Shopping center anchored by Ollie' s Bargain Outlet & Jo-Ann Fabric, located at the intersection of Highway 460 and State Hwy 102, in the heart of the Regional Shopping Destination for Bluefield Virginia. The subject property is shadow anchored by Lowe' s Home Improvement, Walmart Supercenter & Sam' s Club, resting on 7.51± acres of land in the middle of approximately 1.2 million sf of retail, in the principal retail destination for the trade area. Ollie' s Bargain Outlet which represents 52% of the centers GLA, operates on an existing lease which extends through 2020 with built in increases. 70% of the centers gross revenue is derived from national tenants and the property has a vacancy rate of approximately 7% in a market with little or no vacancy. The property is being offered at a reasonable $68/sf or substantially below replacement cost and includes a 15 year roof warranty that covers through 2019.