Jared - Toledo, OH

5011 Monroe Street, Toledo, OH, 43623, US

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the Jared Jewelers located at 5011 Monroe Street in Toledo, Ohio (“Property” or “Asset”). Jared is operating on an absolute NNN lease with zero landlord responsibilities, ±4.6 years of lease term remaining and one, five-year option with a 15% rental escalation.

Jared is positioned as an outparcel to Franklin Park Mall, a super-regional shopping mall and major retail destination in northwest Ohio. Franklin Park Mall generates 5.9 million visits annually while ranking in the top 3% of most visited shopping centers in Ohio and across the nation (Placer.ai). Adjacent to the Property is Franklin Place shopping center which generates 4.4 million visits annually and ranks in the top 6% of most visited shopping centers in Ohio and across the nation.

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Attributes

Asking price

CN¥13,774,000

Cap rate

7.5%

NOI

CN¥1,034,000

WAULT

4.6 years

Building area net

484 m²

Land area gross

0.2 ha

Media

Investment Highlights

Operating on an absolute NNN lease with ±4.6 years of term remaining and one, five-year option with a 15% rent escalation
Outparcel to Franklin Park Mall, a top 3% most visited shopping center in OH & the U.S.
Jared is the 4th largest U.S. specialty retail jewelry brand
Adjacent to Mercy Health St. Anne Hospital wtih 128-beds
Dense commercial corridor off I-475 with accessibility to 91,000 VPD
College town location with The University of Toledo just 4 miles from Property