This Retail Property is Off-Market.

803 N. Houk Road
Delaware, OH 43015 ·

33,625 SF · Retail For Sale

N/A

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Reduced: Westfield SC - Kroger Shadow-Anchored

Price N/A Occupancy 100%
Building Size 33,625 SF No. Stories 1
Property Type Retail Tenancy Multiple
Property Sub-type Retail (Other) Year Built 2001
Property Use Type Investment Lot Size 7.01 AC
Commission Split 4.5% APN / Parcel ID 519-320-22-001-000
Cap Rate 8.60% Parking Ratio 5.30 / 1,000 SF
Listing ID: 16327475 Date Created: 07/22/2009 Last Updated: 10/19/2009

Description

Westfield Shopping Center is a Kroger shadow-anchored community shopping center located in Delaware, Ohio. The property is 100% leased to 15 tenants which include the recently expanded Kroger (shadow-anchored and not part of the subject property), Hallmark, Radio Shack, GNC, Great Clips, Pak Mail and Sleep Outfitters. Westfield Shopping Center is being offered with assumable non-recourse financing at 6.08% affording investors positive leverage at the asking 8.6% capitalization rate. Property was built in 2001 and over 80% of the tenancy are original tenants at the center. Property is the dominant center closest to all the roof tops inthis market.

Westfield Shopping Center is located at the northwest corner of SR 37 and N. Houk Road in Delaware, Ohio which is approximately 30 miles notrth of the Columbus CBD but considered a bedroom community. Delaware's population is over 150,000 and since 2000 has grown 36.6% which is 12th fastest percentage in the nation.

Highlights

  • Kroger Shadow anchored center that is 100% occupied.
  • Assumable non-recourse financing at 6.08% interest.
  • Kroger recently expanded store by 25,000 sf to meet consumer demand.
  • 81% of the tenants GLA were original tenants at the center in this dominant location.
  • Delaware is approximately 10 miles north of Columbus, OH with over 150,000 people and since 2000 has grown 36%, 12th fastest in the nation.
  • Excellent mix of national, regional and local tenancy including GNC, Great Clips, Pak Mail, Blockbuster and Hallmark.

Research

803 N. Houk Road, Delaware, OH 43015 (Delaware County)

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