Kroger Shadow Center

Investment Highlights

KROGER SHADOW ANCHORED CENTER | HAMPTON ROADS MSA
• Midtown Marketplace is a 12,866 SF Kroger shadow-anchored center, located in Portsmouth, VA, and a part of the Hampton Roads MSA
• The property is shadow-anchored to a strong-performing Kroger
• 50% national tenancy, including multiple 10+ year operators
• Durable built-in customer base created by surrounding national retail and dense neighborhood areas
• Midtown Market Place ranks in the top 2% of shopping centers both nationally and in the state of Virginia

DAILY NEEDS TENANT LINEUP | BUILT-IN GROCERY TRAFFIC
• Midtown Marketplace is the #1-ranked shopping center in a 10-mile radius
• The center features an 50% national tenancy makeup, providing a strong mix of daily needs retail and service
• 50% of the GLA operating for 10+ years, showing long-term proven tenant performance at the location
• The Kroger shadow anchor ranks in the top 30% in the chain in a 15-mile radius and in the top 3% of all grocers in the state (Placer)
• Midtown Marketplace features several well-performing outparcel strips, adding more foot traffic to the center

DENSE INFILL LOCATION | 226K 5-MILE POP
• Midtown Marketplace serves a dense infill trade area with 80K people in a 3-mile radius & 226K people in a 5-mile radius
• The dense surrounding neighborhood area creates a built-in customer base for the grocery-anchored center
• The center benefits from surrounding national retailers like Walmart, Wawa, Lowe’s, 7 Brew, and more

HAMPTON ROADS TRADE AREA
• Midtown Marketplace is located within the Hampton Roads MSA, one of Virginia’s most important economic regions, driven by military, port, shipbuilding, logistics, healthcare, and government employment.
• Home to over 1.8 million residents, the area captures the Virginia Beach, Norfolk, and Chesapeake Bay metros
• Hampton Roads is home to the largest naval base in the world and has over 15 major military bases in the region, with over 90,000 active-duty military personnel
• Port logistics and shipbuilding drive over $92 billion in economic impact and support more than 400,000 jobs in the Hampton Roads area