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Charlie’s Run Shopping Center

$ 4,300,000
7940 East Broad Street - ,
Available

Investment Overview

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Charlie’s Run, a 17,830 square foot retail center located in Columbus, Ohio. The property is currently 100 percent occupied, with all leases in place leased to triple net terms and no rollover until 2021. The center holds a mix of local and national tenants including Sprint, Sports Clips, Zero’s Pizza, and Scrambler Marie’s. Charlie’s Run is located in Reynoldsburg, Ohio, a growing suburb just east of Columbus. The property is situated directly off of East Broad Street, which draws 65,565 cars each day. Demographics surrounding the property are strong, with 73,282 residents located within three miles of the property and 154,543 residents within five miles. Additionally, the population has grown rapidly since 2000 at a rate of 30 percent. The average household income in the immediate area is strong at $77,733. The property is shadow-anchored by Target and Meijer, with multiple other successful retailers surrounding the property including Walgreens, Max & Erma’s, Lowe’s Home Improvement, Aldi, Office Max, T.J. Maxx, Hobby Lobby, and Many More. Along with multiple retailers, the property is neighbored by L Brands Headquarters, home to flagship brands such as Victoria’s Secret & Bath & Body Works. Generating over 12 billion in annual revenue, L Brands employs over 55,000 employees worldwide and holds approximately 10,000 employees at the Reynoldsburg location.


Summary and Details

Price $4,300,000
CAP Rate – Current 7.84%
NOI $337,269
Price per Square Foot $243
Gross Leaseable Area (Square Foot) 17,730
Occupancy 100%
Year Built/Renovated N/A
Lot Size 1.5321 Acres
Status Available
Major Tenants  Sakana Sushi Restaurant
Scrambler Marie’s
Spa by Moxie
Sprint
My Family Dental
Sports Clips
Pizza New York
Charlie’s Run Shopping Center OM

Investment Highlights

■100% Occupied Meijer & Target Shadow Strip in Columbus MSA
■ Long Term Leases in Place – No Rollover until 2021
■ All Leases in Place Leased to NNN Terms
■ Immediately Neighbored by L Brands Headquarters; 12.2 Billion in Revenue and Over 55,000 Employees Worldwide
■ Dense Demographics: 73,282 Residents within Three Miles of the Property
■ High Growth Location – 30 Percent Population Growth Since 2000
■ Affluent Area – AHHI: $77,733 within 1Mile of the Property
■ High Traffic Counts: 65,565 VPD Directly in Front of the Property on East Broad Street
■ Located 11 Miles East of Downtown Columbus
■ Neighboring Retailers Include: Meijer, Target, Walgreens, Max & Erma’s, Lowe’s Home Improvement, Aldi, OfficeMax, T.J. Maxx, Hobby Lobby, and Many More

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Erin Patton

Senior Vice President Investments
(614) 360-9035
epatton@ipausa.com
(614) 474-1696

Contact Me