Colliers’ is pleased to present this La-Z-Boy net lease opportunity along the Peninsula’s dominant commercial corridor of Jefferson Avenue in Newport News, VA. The corporately leased store sits prominently at a signalized intersection seen by almost 50,000 vehicles per day. La-Z-Boy recently demonstrated their commitment to the location with a long-term renewal and complete renovation and modernization of the store. Square Footage: 16,500 SF Parcel Size: 1.52 AC Year Built: 2000 Parking: 36 Spaces Zoning: C2 Year 1 NOI: $297,000 Ownership: Fee Simple LONG-TERM, SINGLE TENANT CORPORATE LEASE • 8 years remaining on recently executed renewal with full Tenant renovation of store • La-Z-Boy Incorporated, NYSE: LZB Guarantee • 6% rent bump in 2026 PREMIER CORRIDOR, HEAVILY TRAVELED INTERSECTION • Jefferson Avenue is the dominant commercial corridor in the submarket and Greater Peninsula region; Hard corner seen by almost 50,000 VPD • Surrounded by strong employment/demand drivers Jefferson Labs, Tech Center, Newport News/Williamsburg Airport, NASA Langley Research Center and Langley Air Force Base, CHKD Health, Canon, Alion Science and Technology, C² Technologies and Triumph Aerospace Systems • National retailers within 1-mile include Whole Foods, Costco, Ulta, Aldi, Lidl, Target, and Homesense EXCELLENT RETAIL LOCATION AND DEMOGRAPHICS • Densely populated trade-area with over 176,000 people living within 5 miles of the property • Comfortable average household incomes of over $96,000 that match the target shopper • Strategic access to regional connector I-64 WELL-MAINTAINED WITH RECENT CAPEX UPGRADES • Excellent opportunity for passive ownership with recent parking lot, seal coat and line strip, and new HVAC units UNDER MARKET RENT • Currently, hard corner parcel retail space is commanding rents north of $30/sf in this corridor