August 20, 2021
SOLD – VERIZON WIRELESS NET LEASE – BRISTOL, VIRGINIA
J.H. Winokur, Inc. is pleased to announce the closing of the sale of a net lease Verizon Wireless located in Bristol, Virginia. Located just off Exit 7 of I-81 next to Super Wal-Mart, Lowes, & a new Sam’s Club. Prime retail location and commercial shopping hub. Exit 7 has an average daily traffic count of 50,000. With its wide variety of large retailers, the Bristol trade area draws from 12 counties, adding over 244,000 people to the region’s population of nearly 560,000. Residents of the three Tennessee cities within the region (Kingsport, Johnson City and Bristol), travel to Bristol, Virginia, to shop because Virginia’s sales tax rate, at 5%, is nearly one-half the 9.5% charged in Tennessee.
Verizon Wireless is an investment grade credit tenant. The lease is a corporate Verizon, Cellco Partnership guarantee. Cellco is the largest wireless company in Europe. In the U.S. they are a 50/50 partner with Verizon Communications and operate as Verizon Wireless, the largest wireless operator in the United States.
J.H. Winokur represented the seller, a private investor. The property was purchased by a private Real Estate Investment Trust (REIT.)
Founded in 1978, J.H. Winokur continues to be a trusted advisor and broker for private investors and 1031 exchange buyers seeking the best real estate investments for their goals. For more information contact Jeff Winokur.
