Investment Sale Opportunity
Listing was updated at: 08/07/2019
Property Overview
Price/Rent PSF $ 4,250,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 25,283
Date Available 08/07/2019
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Description

Location
Located directly on Trueman Boulevard and Cemetery Road.

Sale
Black Gate Partners, on behalf of ownership as its exclusive advisor, is pleased to bring to market Central Park II, a 25,283 square foot, multi-tenant, retail center in Hilliard, Ohio.

Central Park II is 100% occupied and located in a busy retail corridor at the corner of Cemetery Road and Trueman Boulevard at the north end of Mill Run that sees great activity, growth, and has adjacent retailers that drive traffic. Central Park II has the best location within Mill Run. The center is 80% occupied by a Staples store that is the only office supplies store in six miles. This Staples store has been at Central Park II for thirteen years, has recently exercised a five-year option and has additional 3-5 year options remaining with rent increases. The average rents in the center are $12/SF Net. All three tenants are in true triple-net leases and the two smaller tenants both have scheduled rent increases through the remainder of their lease terms. At the corner of Cemetery Road and Trueman Boulevard, Central Park II has exceptional visibility and is out front of a Home Depot and Target. Within a one-mile radius, the average HH income exceeds $121,000 and traffic counts at the intersection of Cemetery Road and Trueman Blvd are more than 49,000. This trade area in and around Mill Run is strong and secure for the foreseeable future. Central Park II is only a quarter of a mile from the I-270 on-ramp that sees over 120,000 commuters daily.

Location