The Mall at Tuttle Crossing_Property for Sale

5043 Tuttle Xing Blvd, Dublin, OH, 43016-1511, US

The Mall at Tuttle Crossing

Asset Description

JLL has been retained as exclusive advisor for the sale of The Mall at Tuttle Crossing (the “Property” or “Mall”), an exceptionally well-located, two-level super regional mall in Dublin, OH. Comprising approximately 1,121,333 square feet (“SF”) of gross leasable area (“GLA”), The Mall at Tuttle Crossing offers an anchor line-up that is ideally suited for the trade

area including JCPenney (145,000 SF), Macy’s (149,000 SF), and family oriented entertainment destination Scene 75 (225,000 SF).

The Mall at Tuttle Crossing is situated on approximately 83.0 acres (37.3 owned) and prominently located immediately off Interstate 270 (110,180 VPD), which serves as the major thoroughfare connecting Columbus to the surrounding suburbs.

BILL POFFENBERGER

OH Lic. #352247

Managing Director

w: +1 513 252 2107

bill.poffenberger@jll.com

...

Attributes

Building area Gross

69,061 m²

Occupancy

73.00%

Year built

1997

Land area Gross

26.94 ha (269,399 m²)

Media

Investment Highlights

EXCELLENT LOCATION

The Mall at Tuttle Crossing enjoys a highly visible, prominent location at the intersection of I-270 and Tuttle Crossing Blvd (~29,000 VPD) with significant frontage along I-270, the heavily traveled beltway loop freeway in the Columbus metropolitan area with traffic counts in excess of 110,000 VPD – providing a high-traffic location with exceptional access from throughout the trade area.

AFFLUENT TRADE AREA

Located in Dublin, OH, The Mall at Tuttle Crossing is situated in the most affluent area of the greater Columbus market with average households exceeding $117,500 within a 5-mile radius of the Property – an income level more than 50% and 33% greater than metro and state levels. The Property also benefits from a densely populated trade area with more than 1.2 million residents within a 15-mile radius.

KEY ENTERTAINMENT COMPONENT

Scene 75, a growing family-owned regional entertainment concept, opened one of the largest entertainment centers in the nation at the Property in October 2019, providing a unique experiential retail offering and creating meaningful additional drawing power to the center.

LOCAL DEMAND DRIVERS

The city of Columbus, and The Mall at Tuttle Crossing specifically, benefit from a number of local demand drivers. Columbus is both the capital of Ohio and the county seat of Franklin County. It is the 14th most populous city in the US with a population of 906,528. The Columbus Region has one of the nation’s fastest-growing large metropolitan areas and the fastest in the Midwest, according to the U.S. Census Bureau. It is also home to one of the highest concentrations of higher education in the nation, with 52 college and university campuses, a total enrollment of more than 134,000 students and 22,000 annual graduates. Columbus is also home to five Fortune 500 corporate

headquarters.

ADDITIONAL UPSIDE POTENTIAL

The Mall at Tuttle Crossing presents further additional upside with the potential to lease 33 available small shop suites, comprising approximately 80,319 SF.

ATTRACTIVE BASIS

A new owner’s ability to implement a successful leasing and/or redevelopment strategy will be greatly enhanced by a significantly lower basis in contrast to that of prior ownership.