9 of 11 Tenants Have One or More Rent Increases in their Current Term Driving Real NOI Growth Over Hold Period
10 of 11 Leases are NNN – Over 100% Reimbursement of LL Operating Expenses Heavily Mitigating Any Operating Expense Inflation Risks
Favorable NNN Lease Terms with Most Leases Having Mgmt Fee Reimbursement or Admin Fees
Substantial Leasing Velocity – New 10-Year NNN Lease with The Corner Bar, and New 5-Year NNN Leases with Druk International Grocery and Twinado Kitchen
High-Yield Potential – Offered at 8% CAP Pricing Yielding 12.8% Year 1 Cash-on-Cash Return and 19.9% Year 1 Total Return with Proposed 75% LTV Financing Terms
Modern/High-Image 1990-Built Center with Attractive Masonry Facade
Just 1/4-Mile South of I-70 Exit Ramps – I-70 Sees 82,000 VPD
Located within the Prominent Route 256 Corridor – 3-Mile-Long Retail Corridor Straddling North & South Sides of I-70 Exit Ramps with Major Retailers Including Walmart, Sam’s Club, Target, Kohl’s, Giant Eagle, Kroger Big Lots, Best Buy, Marshalls, and More
Immediately Adjacent Retailers Include ULTA, Five Below, Party City, Barnes & Noble, Bed Bath & Beyond, OrangeTheory Fitness, Salon Lofts, Smoothie King, Chase Bank, and More
Dense Infill Demographics with 12,225 Residents within One Mile and 66,918 Residents within Three Miles
Pickerington is an Outer-Ring Suburb on Columbus’ West Side Seeing Substantial New Development Including New Retail, Single-Family Housing, Multi-Family Housing, Seniors Housing, and a $140 Million Expansion of OhioHealth Hospital
Columbus MSA – State Capital Home to a Population of Over 2.1 Million with Major Employers Including The Ohio State University, OhioHealth, JPMorgan Chase, Nationwide, Huntington Bank, Honda, L brands, AEP, Battelle, Abbott Nutrition, and More