Description

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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Attributes

Occupancy

100%

Year built

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).