100% Occupied, 101,779 SF At Home-Anchored 3-Tenant NNN Retail Center in North Canton, OH
New 10-Year NNN Lease with At Home (NYSE: HOME) Comprising 88.7% of GLA & 83.7% of Gross Income
Entire Center Renovated from 2017-2019 with Approx. 67,500 SF of New GLA Built (66% of Center) – Minimal Deferred Maintenance
All-New Façade, Tenant Build-Outs, HVAC, Signage, Parking Lot, LED Parking Lot Lighting, and New TPO & EPDM Roofs on 66% of Center – Approximately $6.5 Million in Capital Improvements in the Last 2 Years
Long-Term Leases – No Lease Rollover Until 2027
Strong Shop Tenants: Pet Supplies Plus In-Place Since 1990, Relocated to Newly Constructed Endcap Unit & Extended Lease Thru October 2027; New 11-Year NNN Lease with Salon Lofts in 2017
Pet Supplies Plus & Salon Lofts both have Base Term Rent Increases
Strong, Rapidly Growing Anchor: At Home has 188 Stores in 38 States – 2019 Sales of $1.34 Billion
All 3 Tenants are NNN – 100% Recovery of Tax, Insurance & CAM
Strong Traffic Counts: 41,438 Cars/Day on Portage St NW, 59,540 Cars/Day at Intersection of Portage St NW & Franklin Ave NW
Part of the Belden Village Trade Area with Over 6.5 Million SF of Retail Leased to 97% Occupancy – Regional Mall & Big-Box Retail Anchored Area, #1 Shopping Destination in Stark County
0.3-Mile from Interstate 77 Exit Ramps with 91,298 Cars/Day
Dense Middle-Income Demographics: 38,400 Residents in 3-Mi & 112,352 Residents in 5-Mi; Average Household Income of $86-$88K within 1-, 3- & 5-Mi Radii
Shadowed by Sam’s Club, Home Depot & BJ’s – All Drive Additional Traffic to the Immediate Trade Area
Part of the Canton-Massillon MSA with a Population of 400,000; Part of the Larger Cleveland-Akron-Canton CSA which is Home to a Population of Over 3.5 Million