Descrição

Address: 700 Eastgate South Drive, Cincinnati, OH 45245

GLA: 189,312 SF

Year Built/Renovated: 1990/2017

Occupancy: 100%

WALT: 3.9 Years

Weighted Average Tenant Tenure: 10.5 Years

Year 1 NOI: +/- $2,880,000

5-Year CAGR: 2.0%

Jon Vanderplough Licensee #: OH - 2005015674

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Atributos

Ocupação

100%

Ano de construção

1990

Dominant Position Within the Eastgate Trade Corridor
32 East sees 2M annual visitors
Located directly off State Route 32 (55,500 VPD)
Across from Jungle Jim's International Market – drawing 3.4M annual visitors
Stable, Long-Term Cash Flow with Embedded Upside
Weighted average in-place rents for anchor tenants (+20,000 SF) are ~43% below market
Retail market asking rents are up 5.1% YOY
Multiple Spin-Off Opportunities
Two, 100% occupied multitenant outlot buildings offer investors exit flexibility at profitable cap rate arbitrage
Strong Demographic Profile
$110K Avg. Household Income within 3-mile radius and $130K within 5-miles
National Credit Anchor Lineup with Secure Income Stream
~97% of GLA occupied by national tenancy
No single tenant contributes more than 17% of income to the center
Proven Tenant Retention and Long-Term Commitment
63,180 SF of recent renewals across 4 tenants:
Recent 5-7 year extensions from Michaels, HomeGoods, Five Below, and Ulta
Michaels in-place since 1998 (28+ years of operating history at the asset).