4318 GEORGE WASHINGTON MEMORIAL HWY Yorktown VA 23692

Heritage Square represents the opportunity to acquire a neighborhood center that is 88% leased to a variety of national discount retailers that include Big Lots and Dollar Tree. The asset is located approximately 20 miles southwest of Williamsburg and 5 miles north of Newport News in the heart of York County. The property is advantageously positioned along George Washington Memorial Highway (Route 17), where the asset benefits from exposure to 49,000 passing vehicles each day along with two signalized intersections that significantly enhance visibility and accessibility to the center. The Route 17 corridor is bustling with activity and York County has recently enhanced travel efficiency along this corridor due to its role as the economic engine and main transportation corridor of the community. The improvements increased the number of total lanes from four to six, allowing three lanes to travel efficiently in both directions along the highway, promoting asset exposure further. 

Heritage Square benefits from being an infill coastal location due to its position on a peninsula. The 3-mile demographics are positive with a population count over 37,600 and an associated average household income of $102,500. The demographic profile of the surrounding region will provide consumer spending at the asset going forward, with the hopes that spending will grow due to the 3-mile retail trade gap that is over $120M. As traffic passing the asset and population in Yorktown grows, future owners can take advantage of the numerous value-add opportunities present at the center. 

• NATIONAL DISCOUNT RETAIL ANCHORS
• VALUE-ADD POTENTIAL
• EXCELLENT FUNDAMENTAL REAL ESTATE
• CREDIT TENANCY
• BELOW REPLACEMENT COST
• OFFERED FREE & CLEAR OF EXISTING DEBT