The Commons at SouthPark

Strongsville, OH

Offering Summary

  • Status: active
  • Price: $16,740,000
  • CAP Rate: 8.00%
  • GLA: 66,139 SF
  • Net Operating Income: $1,339,272
  • Price/SF: $253.10
  • Year(s) Built: 1996
  • Year(s) Renovated: 2016
  • Lot Size (Acres): 10.04 Acres
  • Major Tenants: Michael's, DSW, Brown Aveda Institutes, The Rail, CoreLife Eatery, Spavia, Orangetheory Fitness, The Vitamin Shoppe
  • 100% Occupied, 66,139 SF Super-Regional Mall Shadowed Retail Center in Strongsville, OH (Cleveland MSA)
  • Anchored by Michaels & DSW – Combined 57% of GLA, Long-Term NNN Leases Thru February 2026 and January 2027, Respectively
  • Shadowed by 1.65 Million SF SouthPark Mall with 175 Stores and Anchors Including Macy’s, JCPenney, Dillard’s, Dick’s, Kohl’s, and Cinemark
  • SouthPark Mall Saw a Whopping 7.8 Million Customer Visits in the T12 Month Period Making it the #2 Busiest Shopping Destination in Cleveland and Top 10 in Ohio (Source:
  • Brown Aveda Institute – 3rd Largest Tenant in Center Occupying 16% of GLA, Premier Cosmetology School in Cleveland with Annual Tuition Starting at $21K, Relocation from Successful Site in Rocky River
  • Fully Redeveloped and Renovated in 2015/2016 with Most Major Capital Items Replaced and All-New Leases & Tenant Build-Outs
  • No Near-Term Rollover Risk – 100% of GLA is Leased into 2026 or Longer
  • Offered Free & Clear with Year 1 Cash-on-Cash Return of 12.5% and 10-Year Leveraged IRR of 18.3% at Proposed 70% LTV Debt Terms
  • Small-Shop Tenants Include The Rail Burger, CoreLife Eatery, Spavia, Orangetheory Fitness, Vitamin Shoppe – Combined 26.6% of GLA with Expirations from 2026 thru 2028
  • Strong Recovery of Landlord Operating Expenses via Pro Rata and Fixed NNN Lease Terms – 99.4% Recovery of Real Estate Taxes, Insurance, CAM, and Water/Sewer
  • Ease of Management: Only 8 Tenants, All NNN Leases, Newly Renovated Center with Minimal Deferred Maintenance
  • Institutional-Quality Asset within the Primary Retail Destination for Cleveland’s Middle-Class and Affluent Southwest Suburbs Including Strongsville, North Royalton, Broadview Heights, Brecksville, Brunswick, Hinckley, Berea, Middleburg Heights, and More
  • Direct Frontage and High Visibility to Route 82 (Royalton Road) – Major 6-Lane Road Seeing Traffic Counts of 30,000+ VPD; Signalized Entrance Drive Sharing Access with SouthPark Mall and Kohl’s
  • High Traffic, Highway Accessible Location – 0.6-Mile East of I-71 Exit Ramps at Route 82, I-71 Sees 98,000 VPD
  • Dense & Affluent Suburban Community – The Commons at SouthPark is Surrounded by Infill Streets of Single-Family Housing with AHHI Ranging from $95-105K within 1-, 3-, and 5-Mile Radii
  • The Commons at SouthPark Saw 800,000 Customer Visits in Trailing 12 Months; Pulls from a 208-Square Mile Trade Area with 566,200 Residents with an Average Household Income of $77K (Source:
  • Infill Location – No Room for Any Larger-Scale Development Along Route 82 between I-71 and Pearl Road Creates High Barriers to Entry and Caps Supply of Retail Space in the Market for the Next Decade or Longer
  • Prominent traffic driving retailers within immediate proximity include Costco, Target, T.J. Maxx, HomeGoods, Heinen’s, Best Buy, Old Navy, OfficeMax, Petco, Bed Bath & Beyond, Ulta, Five Below, Aldi, Dollar Tree, and Dozens of Restaurants
  • Cleveland MSA – Home to a Population of Over 2 Million, Part of the Larger Cleveland-Akron-Canton CSA with a Population of 3.5 Million

Craig Fuller

Senior Managing Director