DSW

Columbus | Ohio

Offering Summary

  • Status: accepted offer
  • Price: $7,145,000
  • Cap Rate: 7.00%
  • Current Annual Rent: $500,231
  • Net Operating Income: $500,231
  • Price/SF: $204
  • Year(s) Built: 2002
  • Lot Size (Acres): 4.358 Acres
  • Lease Type: Absolute NNN Ground Lease
  • Major Tenants: DSW
  • Absolute NNN Ground Lease With No Landlord Responsibilities
  • Below Market Ground Rent at $500k Annually, $14.29/SF – Ground Lessor Subleasing 60% Higher to DSW at $820k Annually, $23.43/SF
  • Located at the Entrance of Polaris Fashion Place – 1.57 Million SF Super-Regional Mall Anchored by Saks Fifth Avenue, Dick’s House of Sport, Macy’s, & Von Maur
  • DSW Ranks #22 of 418 National Locations and #1 in Ohio by Customer Visits
  • Top 6% of All DSW Locations Nationally With 289K Annual Visits
  • 4+ Acres with Direct Frontage Along Polaris Parkway – 48,000+ VPD
  • Opportunity for Mark to Market Rental Appreciation in the Future
  • Affluent, Educated Trade Area: Avg. Household Income Exceeds $117K in 3 Miles; Over 55% of Residents Hold Bachelor’s Degrees or Higher
  • Intel & Amazon Economic Tailwinds: Just East in New Albany, Intel’s $28B Chip Plant and Amazon’s Expanding Operations are Adding 13,000+ New Jobs, Accelerating Growth Across Northeast Columbus and Boosting Long-Term Retail Demand in the Polaris Trade Area
  • Columbus Population Growth Leader: Columbus Posted the Highest YOY Population Growth Among Major U.S. Metros in 2023, Fueled by Affordability and Economic Momentum
  • Located within the Greater Polaris Centers of Commerce – 2,000 Acres and Over 4M SF of Retail Space, with a Vacancy Rate of 3.6%
  • Across From 2 Million SF JPMorgan Chase Corporate Center with 10,000+ Employees on Site; Largest Chase Facility in the World
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director