2535 WARDS RD, LYNCHBURG, VA 24502-2105

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN Leased, US Foods Chef’Store investment property located in Lynchburg, Virginia. The tenant, US Foods Chef’Store, Inc signed a 15 year lease in 2022 with with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is a double net (NN) lease, providing the investor responsibilities limited to the roof, which is under warranty for another 16 years, and the structure. US Food’s Inc. is an expanding national brand that provides an in store grocery shopping experience, and is a wholesaler to various restaurants and chains. The tenant has an S&P credit rating of BB+.

The US Foods Chef’Store is located near the exchange of Wards Rd (40,000 VPD) and Lynchburg Expressway (46,000 VPD). Wards Road is the major retail thoroughfare serving the city of Lynchburg. The asset is adjacent to River Ridge Mall, a 260,000 square foot Dick’s Sporting Goods and Homegoods anchored shopping mall. In addition, US Foods Chef’Store is located in the middle of Wards Roads’ most dense retail corridor, situated less than one mile from Sam’s Club, Walmart, Kroger, multiple Chick-Fil-A’s, and numerous other national retailers. The property is strategically located in Lynchburg, less than one mile away from Liberty University (100,000+ students) annd Central Virginia Community College (4,000 students). The subject property is in close proximity to Wards Crossing, a shopping center anchored by Target, Petsmart, Best Buy, with other tenants including Michaels, Aldi, Five Guys, and more. The asset sits in a strong trade area with a 5-mile population of 69,688, and an average household income of $78,716.