Food Lion Grocery Anchored Center 1380 E Main St 38,000 SF Retail Building Wytheville, VA 24382 $11,073,019 CAD ($291.40 CAD/SF) 6.50% Cap Rate

The Twist Capital Team of Colliers is pleased to present for sale LeHy Plaza Shopping Center, a rare grocery anchored retail center totaling 87,964 square feet on 9.196 acres located at the intersection of Interstate 81 and Interstate 77 in Wytheville, Virginia. Well located grocery anchored centers with proven anchor sales performance and national credit tenancy continue to be among the most aggressively pursued assets in retail investment, and LeHy Plaza delivers on every metric that institutional and private capital is competing for.
The center is anchored by Food Lion, one of the most established and operationally consistent grocers in the Mid Atlantic and Southeast, supported by a complementary lineup of national and regional tenants including CVS, Tractor Supply Company, Label Shopper, SWVA Pawn, and a long term Verizon Wireless rooftop antenna lease. The tenant mix produces a defensive, daily needs income stream weighted toward investment grade credit and recession resistant categories that consistently outperform discretionary retail through every cycle. Anchor and inline tenants share strong operating histories at this location, with sales productivity and lease renewal behavior that reflect genuine trade area dominance rather than locational dependency.
Location is the foundation of this offering. The property sits at the confluence of two of the most heavily traveled interstate corridors in the eastern United States. Interstate 81 carries one of the highest freight volumes on the East Coast, while Interstate 77 serves as the primary north south route connecting the Carolinas to the Ohio Valley. Wytheville functions as the dominant retail and service hub for a regional trade area that draws consumers from southwestern Virginia, southern West Virginia, eastern Tennessee, and northwestern North Carolina. There is no comparable concentration of national retail within a thirty mile radius, which has produced sustained sales performance and tenant retention at LeHy Plaza for decades. Interstate visibility, dual interchange access, and signalized ingress along the primary commercial corridor make the site genuinely irreplaceable.
The income profile is built for long term hold investors who prioritize durability over speculative yield. Leases are structured with scheduled rent increases, expense recoveries, and staggered expirations that mitigate rollover risk. Reported anchor sales support strong rent coverage and renewal probability, providing the underwriting comfort that institutional and family office capital expects from grocery anchored product. The Verizon rooftop antenna lease adds an additional layer of passive, credit backed cash flow with minimal landlord obligation.
From an investment standpoint, the combination of grocery anchored tenancy, irreplaceable interstate frontage, dominant trade area positioning, and a roster weighted toward needs based retail makes LeHy Plaza a textbook example of the asset profile private capital and 1031 buyers are aggressively chasing in the current market. Yield premiums available on well located grocery anchored centers outside primary metropolitan markets continue to attract sophisticated capital seeking durable, inflation protected cash flow without compromising real estate fundamentals or tenant credit quality.