 |
| New Valvoline Express outlet, 2501 West Hundred Road, Chester, VA |
 |
| Brad Peterson |
WASHINGTON, DC, Sept. 22, 2020 – JLL Capital Markets announced today that it has closed the $1.7 million sale of a newly constructed 1,668-square-foot retail property ground leased to Valvoline in the Richmond-area community of Chester, Virginia.
JLL
marketed the properties on behalf of the seller, Tennessee-based GBT Realty
Corporation. A private investor purchased the asset.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Brad Peterson, Director Michael Brewster and Senior Director Jordan Lex.
 |
| Michael Brewster |
Valvoline (NYSE: VVV) is a leading, worldwide marketer and supplier of premium-branded lubricants and automotive services with sales in more than 140 countries.
Additionally, the tenant is the second
largest instant oil change chain by locations in the U.S. with more than 1,300
stores.
Constructed
in 2020, the property is situated on 0.64 acres at 2501 West Hundred Rd., which
is only 630 yards from Interstate 95, which has a traffic count of
approximately 124,000 vehicles per day.
This
location is the only Valvoline within five miles and the closet oil change
location to I-95, which is a primary roadway into Richmond, which is 12.5 miles
from the center, and into the rest of Virginia.
 |
| Lex Jordan |
“Instant oil changes fit well in today’s market, as customers opt for convenience and prefer to remain in their vehicles,” Brewster said.
“This Valvoline proved to be an attractive offering due to the quality of the real estate and ideal tenant category.”
For more news, videos and research resources on JLL, please visit our newsroom.
Contact:
Kimberly Steele
Senior
Associate
Public Relations
JLL
Capital Markets
9
Greenway Plaza, Suite 700
Houston,
TX 77046
T
+1 713 852 3420
M
+1 832 244 9994
No comments:
Post a Comment