9685 Jefferson Davis Hwy
Fredericksburg, VA 22407

CBRE is pleased to exclusively present for sale this JOANN Crafts & Fabrics property located on Jefferson Davis Highway in Fredericksburg, Virginia. JOANN has been operating at this site since 2009, and recently extended its lease showing commitment to and success at this location. There are currently 7+ years remaining in the initial lease term with two, five year option periods to renew, and 5% rental increases in the option periods. This store has strong sales of $3.4 million, which falls within the average store sales range for this tenant. This NNN lease is corporately guaranteed by JOANN, the nation's leading fabric and craft specialty retailer. JOANN is located on a large 2.43 acre parcel and is part of Cosner's Corner, which is home to 1 million square feet of retail and office, including major tenants Target, Publix, KOHL's, Marshalls, ROSS, Panera Bread and Taco Bell. There is no major craft store competition within 8 miles of this site, making this a go-to store for shoppers and nearby residents. This area is also experiencing massive population growth and housing construction. JOANN is also situated adjacent to the new apartment complex The Allure at Jefferson which is home to 338 units and was built in 2018 and opens in early 2019. Fredericksburg is located 45 miles south of Washington, DC and is part of the Northern Virginia region, included in the Washington-Arlington-Alexandria MSA. This NNN lease coupled with a successful tenant and strong location makes this an ideal investment for the astute investor.