Walkers Corner

Columbus | Ohio

Offering Summary

  • Status: just listed
  • Price: $15,500,000
  • Cap Rate: 7.2%
  • GLA: 50,086 SF
  • Net Operating Income: $1,111,577
  • Price/SF: $309
  • Year(s) Built: 2014
  • Lot Size (Acres): 6.14
  • Major Tenants: DSW, Ulta Beauty, Five Below, Jay's Crab Boil & Oyster Bar, Buff City Soap, Aspen Dental, Starbucks
  • 100% Occupied, Class “A” Retail Development in High Growth Columbus MSA
  • New 10 Year Lease with DSW – Backfill to Party City at $4/SF Higher Rent
  • 67,865 VPD – Irreplaceable Location at Prominent Intersection of Route 256 and Tussing Rd/Blacklick-Eastern Rd NW with Massive Traffic Counts
    • Just 1/4-Mile South of I-70 Exit Ramps – I-70 Sees 100,070 VPD
    • Multiple Points of Ingress/Egress and Prominent Monument Signage Providing Ample Visibility and Accessibility
  • Anchored by DSW, ULTA, Five Below who Collectively Comprise 65% of GLA
    • Five Below is in the Top 7% Nationally & Best of 70 Stores in Ohio (Source: Placer.ai)
  • Nearly All-National Tenant Base – 90% of GLA (8 of 9 Tenants) is Leased to National Retail, Restaurant, and Medical Chains
  • Weighted Average Lease Term Remaining of 5.24 Years – 3 of the 5 Largest Tenants Have Approx. 5-10 Years Remaining
  • Columbus, Ohio is the Fastest Growing Major MSA in the Midwest – 12.5% Population Growth (+237,000 New Residents) Since the 2010 Census
  • Starbucks Located on Prominent Endcap Unit with Drive-Thru and Outdoor Patio
  • Strong Underlying Financial Fundamentals that Mitigate Risk& Create Long-Term Upside Potential-Two Tenants Have Substantially Below Market Rents
    • Weight Watchers & The Joint ($12/SF Below-Market)
    • All Leases are NNN – 94% Reimbursement of Landlord Operating Expenses Creating True Inflation Hedge
  • Modern/High-Image 2014-Built “Class A” Retail Center – 3 Buildings with Attractive 4-Sided Masonry & EIFS Facades
  • Located in the Middle of Prominent Route 256 Corridor – 3-Mile-Long Retail Corridor Straddling North & South Sides of I-70 Exit Ramps
    • Walmart, Sam’s Club, Target, Kohl’s, Giant Eagle, Kroger, Best Buy, Marshalls, etc.
  • Affluent, Dense Infill Demographics with 10,400 Residents within 1 Mile and 87,800 Residents within 3 Miles; One-Mile AHHI of $100K
  • 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
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director