COLONNADES WEST

• Location: Richmond MSA, Virginia
• Type: Retail
• Size: 136,082 square feet
• Acquisition Price: $23,860,000
• Acquisition Date: December 2019

Comments: Colonnades West is at a “main and main” location with excellent visibility and is across from the Innsbrook Office Park (a complex with 8.1M SF of space). This community center is projected to yield an average of 9.86% cash-on-cash return over a ten year period. The center is composed of proven e-commerce resistant strong national tenants with majority being in place for more than 20 years. Colonnades is 97.5% occupied.