803 N. Houk Road
Delaware, OH 43015 ·
33,625 SF · Retail For Sale
Reduced: Westfield SC - Kroger Shadow-Anchored
|Building Size||33,625 SF||No. Stories||1|
|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|
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.
- 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.
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