Specter Properties, Inc. is pleased to present the sale of a new single tenant LongHorn Steakhouse (land lease). The property is located at 2001 Southpark Boulevard which is an outparcel adjacent to Southpark Mall (regional mall). The property is under construction and the initial lease term will commence upon completion. Other retailers located in this heavily dense retail area include: Dick’s Sporting Goods, JC Penney, Macy’s, Regal Cinemas, Walmart, Sam’s Club, Olive Garden, Gold’s Gym, Gabe’s, Ashley Furniture, Target, Burlington and many more.
Five miles east of this site is Fort Lee Military Base. According to the Colonial Heights, VA website, Fort Lee provides more than $225 million of combined military and civilian annual payroll to the local economy through its Troop Agency, Army Logistics Center and Quartermaster School. The City of Colonial Heights is ideally situated to benefit from the additional consumer and construction spending power generated by the recent expansion of Fort Lee under the recommendations of the Base Realignment and Closure Commission (“BRAC”). Fort Lee has become the logistical hub of the U.S. Army. The economic impact of the newly arriving soldiers and civilian employees is estimated to be approximately $500 million in new income annually for regional businesses.