Ridgeway Center

Sold February 2024

Represented Seller

Multiple competing offers‍

100% Leased Multi-Tenant NNN / Value-Add Investment Opportunity located in Oak Ridge (Knoxville MSA), TN

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- Ridgeway Center is 100% occupied, giving investors a strong in-place cash flow with very favorable upside.

- True Value-Add Opportunity - Rents are 50% below market rents ($6.95 PSF In Place vs. $13.00 PSF Market) with significant rollover

over in the coming months, recent renewals and lease comps show strong evidence for continued rental growth. Majority of tenants do not

have options to extend.

- Below replacement cost at $83 PSF.

- Ideally located off of the main thoroughfare (Oak Ridge Turnpike) serving the Trade Area.

- Located in Oak Ridge, which is outside of downtown Knoxville, Tennessee. Oak Ridge is home to United States Department of Energy

facilities - a national laboratory and a national security complex - and high-tech/high-wage employers. It is also home to a regional medical

center.

- Ridgeway Shopping Center has a healthy variety of diverse local neighborhood serving tenants & businesses

- Landlord friendly/well written triple-net (NNN) leases, whereby the tenant is responsible for paying and/or reimbursing the landlord for the

property taxes, insurance, and common area maintenance (CAM).

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