Stone Creek Towne Center

Cincinnati, Ohio

Offering Summary

  • Status: closed
  • Price:
  • GLA: 149,441 SF
  • Net Operating Income: $2,483,158
  • Year(s) Built: 2007
  • Year(s) Renovated: 2008
  • Lot Size (Acres): 23.29 Acres
  • Major Tenants: Best Buy, Bed Bath & Beyond, Old Navy, Logan's Roadhouse, Starbucks, AT&T, FedEx Kinko's
  • Value Add Opportunity: Increase Net Operating Income by 28 Percent via Lease-Up of Vacant Suites (13,653 Square Feet) at Market Rates; Projected Year Three Net Operating Income of $3,184,351
  • Parcelization Strategy: Freestanding Credit Users Including Best Buy, Starbucks, and an Under Market Logan’s Roadhouse Pad are Prime Candidates for Bifurcation
  • Pad Development Opportunity: Undeveloped 0.45 Acre Pad Along Entry Drive Lane that Sits On it’s Own Tax Parcel
  • Tenured Rent Roll: 21 of 27 Tenants Remain in Center from Original Development with Over 10 Years of Tenancy; 81 Percent of Base Rent from National Tenants with Over 10 Years of Tenancy
  • Best Positioned Center in Submarket: Out-Positions All Centers in Market with Entrance 700 Feet of Interstate 275 in Combination with Modern Open-Air Retail Architecture as Center was Built Between 2007-2012. Stone Creek is an Attractive Option for Tenants Looking to Relocate to the Premier Center in the Submarket
  • Regional Draw: Center is a True Regional Draw with 4.2 Million Customer Visits Over the Last Year and Over Five Miles to Nearest Location for Many of Stone Creek’s Retailers
  • 85 Percent of Annual Base Rent Originates from National Tenants, Non-Nationals Comprise Only 14,420 Square Feet (9.6 Percent of Gross Leasable Area)
  • Located Within Primary Retail Trade Area Serving Colerain Township (Population is 59,000); Neighboring Retailers Drawing Traffic to the Trade Area include Kroger Marketplace, Walmart, Lowe’s, Dick’s, Hobby Lobby, JOANN, Bob’s Discount Furniture, Marshalls, Michaels, ULTA, DSW, and More
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director