Virginia Village Shopping Center

Cushman & Wakefield, as exclusive advisor for the Seller, is pleased to present the opportunity to acquire Virginia Village Shopping Center, a 49,331 square-foot neighborhood shopping center (the “Property”). The Property consists of a combined “L” shape configuration of multi tenant inline space and one single tenant fuel pad with convenience store. The center is named after the Denver neighborhood for which it resides, Virginia Village, and was built in 1957 as part of the original neighborhood development. The neighborhood is located southeast of downtown and features population density, premier income demographics and surrounded by primary arterials connecting urban environments to the suburbs. The immediate surrounding population totals 187,789 people within a 3-mile radius and has an average household income of $134,900. Additionally, there are 29,257 daytime employees within 1-mile of the shopping center.

While located within a neighborhood setting, it is one mile east of Colorado Boulevard, Denver’s most heavily traveled non-highway. Colorado Boulevard experiences nearly 120,000 vehicles traveling north/south each day. Furthermore, Leetsdale Drive is 1.2 miles north and connects much of southeast metro Denver to the city, with 66,000 vehicles per day. The visitors to the Property arrive from a wider radius than expected which we believe to be attributable to a combination of the tenant mix and Montessori School of Denver (“MSD”) that is across Holly Street from the center. MSD has approximately 350 students ranging from PreK to 8th grade and is the oldest Montessori based school in Denver. The private school tuition is approximately $25,000/year and attracts families from all over the city. The school serves as a traffic generating anchor for the intersection. Furthermore, the current rent roll has begun to compliment the family oriented submarket with Little Kickers and Kickin’ It Gym. Future leasing efforts could focus more on continuing the trend, and emphasizing family friendly neighborhood uses.

Virginia Village Shopping Center comprises the entire northwest quadrant of the intersection at East Florida Avenue and South Holly Street. The Property is currently 80% occupied by 11 internet-resistant tenants. The current vacancy is a biproduct of projecting the closure of Family Dollar at year end 2024. The Family Dollar has been a point of inconsistency in the tenant mix and historically impeded synergy amongst the customer base. The former Family Dollar is now a tremendous opportunity for the next owner to continue curating a premier neighborhood rent roll and create substantial value. There is an incredible eight points of ingress/egress at this Property, resulting in ease of access for the consumer.