25735 1st St
Westlake, OH 44145
Dave & Buster's - Corporate Ground Lease · Retail Property For Sale

For sale to qualified investors is the fee-simple interest in a corporate Dave & Buster' s ground lease located in Westlake, Ohio. Dave & Buster' s commenced a 20-year, absolute triple-net ground lease in 2001, and, due to an early lease extension by the tenant, they currently have over 10 years of guaranteed lease term remaining. Dave & Buster's has also just completed an exterior and interior prototypical upgrade and remodel costing approximately $2 million. Due to the property's access to Cleveland's entire west-side population, Dave & Buster's constructed their full-size, 57,500-square-foot prototype in this location. The facility features their full-size arcade room, restaurant and bar area, and also features private rooms for large parties and corporate events. Because this is the only Dave & Buster's serving the Cleveland market, the total market size for this location is over 3.5 million people. Additionally, the property is surrounded by hotels, which include Courtyard by Marriott, TownPlace Suites by Marriott, and Super 8. Other nearby retailers include Outback Steakhouse, Carrabba' s, Panera, Taco Bell, KeyBank, Walgreens, KFC, McDonalds and others. The property is located at the highway interchange of Interstate 90 and Columbia Road in Westlake, Ohio. The City of Westlake is an affluent suburb of Cleveland. Westlake is located primarily between Interstate 90 and Center Ridge Road, and is bordered by other affluent communities such as Avon, Bay Village, and Rocky River. There are over 235,000 people within a 10-minute drive from the center of the city, and residents can access downtown Cleveland within only 10 to 15 minutes. The largest employers in the city include Hyland Software, St. John' s Medical Center, and, beginning in 2016, American Greetings, who selected Westlake as the home of their new corporate headquarters. This entire area of Westlake is a thriving retail hub including Chipotle, Trader Joe's, Giant Eagle, Barnes N Noble, Nordstrom Rack, LA Fitness, Starbucks, Wendy's, and Regal Cinemas, to name a few.