4701 Shore Dr – Kroger Shops Ground Lease, Virginia Beach, VA – Retail

Kroger is fee simple owner and Lessor to this 40 year ground lease, currently operated as a multi-tenant retail building. Retail shops have a strong line up of national tenants with low vacancy. Ground lease term is from 2/18/05-12/31/2045, with 8 five-year renewals. Rent bumps are on a floor/ceiling basis starting every 5 years in 2025.