Franklin Park Mall Outparcels

5001 Monroe Street

Description

The Offering is a 94.2% occupied, 68,722 square-foot multi-tenant retail outparcel center strategically positioned in the heart of Toledo’s premier retail corridor (3.4% vacancy rate within a 5-mile radius). The Property features five (4) nationally recognized tenants including Dave & Buster’s, Ulta Beauty, Old Navy, and Maurices. The Property is positioned directly adjacent to Franklin Park Mall, the region’s #1 super-regional shopping destination encompassing 1.2+ million square feet with over 100 specialty retailers. The mall generates 5.8 million annual visits and is anchored by Dillard’s, JCPenney, and the #1 most trafficked Dick’s Sporting Goods in Ohio. The outparcels benefit from exceptional visibility along Monroe Street with immediate access to I-475, providing seamless connectivity across the Toledo MSA and Southeast Michigan while capturing traffic from Northwest Ohio’s dominant retail hub.

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Attributes

Year built

2008

WALT

5.3 years

Occupancy

94.2%

Building area net

6,384 m²

Media

Investment Highlights

Strategically positioned in Northwest Ohio's dominant Monroe Street retail corridor
Direct frontage on highly trafficked Monroe Street (VPD: 30,000) with immediate access to I-475 (VPD: 80,000)
Minimal maintenance obligations
Adjacent Franklin Park Mall responsible for all common area maintenance
Best in class, high-performing, 100% national tenant line-up
Weighted average health ratio of +/- 11%
Value-add opportunity through vacant lease-up & mark-to-market opportunities
4,000 SF available for lease-up
Outparcel to Toledo's #1 super regional mall - the only one within 50+ miles
Adjacent to Franklin Park mall (1.2M+ SF), drawing 5.8M annual visits and $500 PSF in annual sales