The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Kroger property located at 4119 Boonsboro Road in Lynchburg, Virginia for $9,900,000.<\/p>\n
The 77,402 square foot net leased Kroger property benefits from its location along Boonsboro Road (13,000 VPD). The Kroger store serves as the anchor for the shopping center known as The Village Markets. Tenants alongside Kroger include Snap Fitness, Mi Patron Mexican Restaurant, and Milano\u2019s Italian. Kroger has confirmed that they will be constructing a fuel station and there are plans for a new building within the shopping center to add retail and parking. There are 71,204 people living within 5 miles of the property earning an average annual income of $66,651. The property is located less than 5 miles from downtown Lynchburg, Virginia.<\/p>\n
The Kroger Company is an American retail company founded by Bernard Kroger in 1883 in Cincinnati, Ohio. It is the United States’ largest supermarket by revenue ($121.16 billion for 2019). Kroger is ranked #23 on the Fortune 500 rankings of the largest United States corporations by total revenue<\/p>\n
Jimmy Goodman and John Feeney of The Boulder Group represented both sides of the transaction. The seller was a Midwest based real estate firm and the buyer was a Midwest based institution.<\/p>\n
\u201cGrocery properties with proven operating histories continue to garner significant investor interest\u201d said Jimmy Goodman, Partner of The Boulder Group.\u00a0 John Feeney, Senior Vice President of The Boulder Group, added, \u201cGrocery store properties with fuel stations are becoming a standard tactic for attracting customers to a one-stop-shop.\u201d<\/p>\n