740 Town Center Dr, Waynesboro, VA 22980

STRONG SHADOW ANCHORS: Waynesboro Shops is shadow anchored by Waynesboro Town Center, one of the regions leading power centers which saw almost 3M visitors last year. Tenants like Target, Ross, Kohl’s, Aldi, and Michaels, just to name a few, help drive traffic to the smaller shops here. With an average dwell time of 42 minutes consumers are drawn here due to the proximity of so many retailers in one location.

NEIGHBORING DEVELOPMENT: Elevate Town Center, located directly adjacent to the property, was delivered in late 2025 and includes 252 residential units including 1-, 2-, and 3-bedroom floor plans. According to Costar the property is ~30% leased showing strong lease up velocity in the initial months since delivery. In late 2023, Fortune 500 defense contractor Northrop Grumman announced plans to invest over $200 million in an advanced electronics manufacturing and testing facility directly behind Waynesboro Town Center. The 315,000 square-foot facility is slated to open in 2026 and create 331 full-time jobs.

STRATEGICALLY LOCATED: Sitting at the intersection of I-64 (42K VPD) and P Buckley Moss Dr (18K VPD), the center has complementary outparcel co-tenancy in McDonald’s, Chick-fil-A, Aldi, and Taco Bell and is well-positioned for the regional shopper. The center is also a 10-minute drive from I-81 which accommodates 59K VPD.

AFFLUENT DEMOGRAPHICS: Waynesboro Shops benefits from the affluent demographics surrounding the asset with an average household income of almost $90K within a 3-mile radius of the center. Additionally, the area has grown 3.35% over the last 5 years in that same radius building a larger direct customer base.

WIDE TRADE AREA: Waynesboro Shops pulls its customer base from a wide trade area with roughly 60% of visitors traveling over 5 miles and 40% traveling over 10 miles. Waynesboro Shops benefits from visitors traveling to the anchor tenants including Target, Burlington, Ross Dress for Less, Kohl’s and Old Navy. The closest competing centers with tenants of a similar caliber are over 30 miles away allowing Waynesboro Shops to capture both local visitors and those traveling from neighboring towns.