the shoppes at twin oaks

TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
Initiative: 1471
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.
Asset No. 24733
TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
PROPERTY OVERVIEW
Property Name:
The Shoppes at Twin Oaks
Address:
City, County, State:
Property Type:
Property Sub-Type:
Year Built:
Gross Leasable Area:
Number of Tenants:
Occupancy:
Occupancy Date:
No. of Buildings:
Stories:
Parking:
Land Size:
Parcel No:
3601, 3621, & 3641 Cox Road
Richmond, Henrico County, VA
Retail
Neighborhood Center
2006
39,117 SF
8
68.65%
4/30/2014
3
1
239 (6.1 spaces per 1,000 RSF)
5.26 acres
748-759-3503
For questions please contact:
Brandon Cooke
972-868-5229
bcooke@c3cp.com
C-III Realty Services LLC, in conjunction with NAI Eagle, is pleased to
present the opportunity to acquire The Shoppes at Twin Oaks. The
Property is a three-building, one-story, shopping center located in
Richmond, Virginia. The improvements were constructed in 2006 and are
situated on 5.26 acres between the convergence of I-64 and Highway
250.
The Property is zoned B-2C, Business District, and is constructed of brick
and stucco with anodized window and door frames. There is ample
parking available with 239 spaces.
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.
TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
Highlights
• Excellent Value-Add Opportunity. The Shoppes at Twin Oaks is
currently 69% occupied and presents an excellent opportunity for an
investor to pursue lease up of vacancy with a strong tenant line up of
local and national retailers in place.
• Highly Visible. The Property is prominently located along Cox Road
with two multi-sided pylon signs and variable facing storefronts.
• Premier Retail Location. The Shoppes at Twin Oaks is conveniently
located on Cox Road between I-64 and Highway 250 (Broad Street) and
sits less than 3 miles from Short Pump regional mall in a major retail
hub. Highway 250 at Cox Road has a daily traffic count of 37,000 cars,
and I-64 at Highway 250 has a traffic count of 74,000 vehicles per day.
Environmental
Environmental Report Summary
Firm Name:
Property Solutions Inc.
Report Date:
6/18/2012
Report Type:
Phase I
O&M Plan Recommended:
No
Phase II Recommended:
No
Phase II Conducted:
No
Other Action Recommended:
No
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.
TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
Key Tenant Profiles
Tenant
Total Square Feet
% of Project
Lease Expiration
Website
Bank of America
7,187
18.4%
January 2015 (3 yr renewal in progress)
www.bankofamerica.com
Bank of America: Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middlemarket businesses and large corporations with a full range of banking, investing, asset management and other financial and risk
management products and services. They serve approximately 51 million consumer and small business relationships with approximately
5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more
than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in
corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through
a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40
countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Tenant
Total Square Feet
% of Project
Lease Expiration
Website
West End CrossFit (d/b/a CrossFit)
5,694
14.6%
March 2019
www.crossfitwestend.com
CrossFit: CrossFit is a fitness company founded in 2000 that is promoted as a physical exercise philosophy and also as a competitive
fitness sport. CrossFit routines incorporate high-intensity interval training, Olympic weightlifting, power lifting, gymnastics and other
exercises. It is practiced by members of over 9,000 affiliated gyms, most of which are located in the United States.
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.
TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
Market Comparables
SALE COMPARABLES
Property Name:
Address:
City, State:
Distance from Subject:
Year Built:
Net Rentable Area:
Occupancy:
Sales Price:
Price /SF:
Sale Date:
COMPARABLE 1
The Shoppes at
Wellesley
3416 Lauderdale Dr
Richmond, VA
3.3 miles
1991
42,250 SF
100 %
$7,420,000
$175.62
August 2013
COMPARABLE 2
COMPARABLE 3
Gum Road Shoppes
Parkway Plaza Shopping
4416 Portsmouth Blvd
Chesapeake, VA
106.8 miles
2002
6,000 SF
100%
$1,000,000
$166.67
February 2013
869 Lynnhaven Pkwy
Virginia Beach, VA
117.9 miles
1977
44,741 SF
100%
$7,750,000
$173.22
August 2012
LEASE COMPARABLES
Property Name:
Address:
City, State:
Distance from Subject:
Year Built:
Occupancy:
Net Rentable Area:
Quoted Rental Rate:
Reimbursement:
COMPARABLE 1
Parkside Marketplace
10801 W. Broad St
Richmond, VA
0.3 miles
1985
90%
49,423 SF
$18.00 – 20.00
NNN
For questions please contact:
Brandon Cooke
972-868-5229
bcooke@c3cp.com
COMPARABLE 2
Westpark Center
9621 W. Broad St
Richmond, VA
1.5 miles
1988
90%
81,723 SF
$18.00 - $20.00
NNN
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.
COMPARABLE 3
West Broad Retail
9011 W. Broad St
Richmond, VA
2.4 miles
1988
60%
16,100 SF
$14.00 - $17.00
NNN
TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
Site Plan
Space
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Tenant
Sq. Ft. Expiration
AVAILABLE
5,000
N/A
Crossfit
1,920
3/2019
Crossfit
1,832
3/2019
Crossfit
1,942
3/2019
Big Al's Sports Bar & Grill
2,910
8/2015
Cupertino's NY Bagel & Deli
2,394
3/2017
Maxx Nail & Spa
1,887
1/2019
Paradise Biryani Pointe
2,575
3/2017
AVAILABLE
2,407
N/A
Bikram Yoga Richmond
2,606
7/2017
AVAILABLE
3,417
N/A
AVAILABLE
1,440
N/A
Asian Health Massage
1,600
7/2016
Bank of America
7,187
1/2015*
*3 yr renewal in progress, see LOI in Virtual Deal Room
1
2
3
4
5
6
7
8
9
10
13
14
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.
11
12
TH E S H O P P ES AT TW I N O A K S
3601, 3621, & 3641 Cox Road
Richmond, VA 23233
Financing Available
Through long-standing relationships with
financial institutions including commercial
banks, investment banks, life companies,
mezzanine funds, and government-sponsored
agencies, and with its focus on commercial
real estate, C-III Realty can serve as an
important resource for commercial mortgage
financing.
The Shoppes at Twin Oaks has undergone
preliminary underwriting by a number of debt
capital sources. A variety of financing
programs are potentially available, and C-III
Realty will be able to provide the successful
purchaser with solutions to their financing
needs.
Please contact:
Bill Leifeste
C-III Realty Services LLC
972-868-5359
bleifeste@c3cp.com
Disclaimer: Information included herein was provided by third parties and should only be used for informational purposes. C-III Realty Services, LLC, C-III Asset
Management, LLC, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or
implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or
discrepancies between the above listed information and actual documents.