Ridge Park Square
I-480 Ridge Road, Brooklyn, OH, 44144, US
Asset Description
OPEN-AIR RETAIL CENTER IN CLEVELAND MSA
Property Location:
CENTER RIDGE ROAD, FAIRVIEW PARK, OH 44126
Property Size:
311,440 SF
Land Size:
25.90 ACRES
Parking Spots:
2,139
Ingress/Egress Points:
5
Year Built:
2007
Buildings:
8
Tenant Suites:
49
Occupancy:
97.2%
Year 1 NOI:
+/- $4,400,000
Attributes
Tenants
Lowe's, Target, Marshalls, Kohl's, Ulta Beauty, J.CREW, petco, Bally House
Media
Investment Highlights
OUTSTANDING LEASING MOMENTUM OVER THE PAST THREE YEARS
- 17 New Leases Across +80,000 SF I 13 Recent Renewals Across +50,000 SF
IDEAL INCOME DIVERSIFICATION
- Highly Diversified Shop Space (sub 10,000 sf) I 43 E-Commerce Resilient Tenants
- No Shop Space Tenant Attributes More Than 5% of Income
MULTIPLE VALUE CREATION OPPORTUNTIES
- Separately Parceled Applebee’s and Kohl’s
- Existing Vacancy Allows for Immediate NOI Upside
- Significantly Below Market Applebee’s Outparcel
- Ability to Convert Jr. Anchor to NNN Upon Rollover
- 25% of Shop Space Does Not Have Fixed Rate Renewal Options
STRONG SALES PRODUCTIVITY
- Average Weighted Occupancy Cost is 8.00%
- Average Sales PSF (tenants under 5,000 sf) are Greater than $400/sf
RECENT CAPITAL UPGRADES
- Total Investment by Ownership over Past Three Years Exceeds $2M
OH Licensee:
Bill Poffenberger
License #: OH-352247
513.252.2107
Contact brokers
Michael NiederSenior Director, Capital Markets
Brian PageDirector
Westgate Shopping Center (0 Properties)
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
4 Apr 2025
