Westgate Shopping Center_Property for Sale
Westgate Shopping Center_Property for Sale
SE Corner of Rt 20 & W 210 St, Fairview Park, OH 44126, Fairview Park, OH, 44126, US

Westgate Shopping Center

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

bill.poffenberger@jll.com

License #: OH-352247

513.252.2107

Westgate Shopping Center 4_Property for Sale
Westgate Shopping Center 4_Property for Sale

Contact brokers

Westgate Shopping Center (0 Properties)

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Last updated
Jan 9, 2025