870 N Court St
Medina, OH 44256
Abs NNN Giant Eagle - Recent Lease Renewal · Retail Property For Sale

Institutional Property Advisors, on behalf of ownership, is pleased to present Giant Eagle in Medina, Ohio. The subject property is a 90,346-square-foot freestanding grocery store situated on 7.54 acres. Giant Eagle is leased to absolute triple-net terms through January 2024, and operates a full-service grocery store including a drive-thru pharmacy and Huntington Bank branch. The subject property’s lease began in 1998 for a term of 20 years, as a build-to-suit for Finast grocery store, which later merged into Tops Friendly Markets in the early 2000’s. Giant Eagle was assigned the lease in 2006, and has continuously operated at the site since, expanding the store significantly in 2010. In March, Giant Eagle exercised their first of eight, five-year options, commencing in February 2019 and extending their lease through January 2024. Giant Eagle is one of the largest privately held companies in the United States, with annual sales of over $9.3 billion throughout its 220 supermarkets and approximately 180 convenience and fuel centers. Giant Eagle is situated along U.S. Route 42 (North Court Street), the primary commercial thoroughfare for Medina seeing 14,280 cars per day. Demographics in the surrounding area are strong, with 9,224 residents within one mile, 37,330 residents within three miles, and 54,198 residents within five miles. Average household income levels are well above the national averages, at $74,000 within the immediate one-mile vicinity, and increasing to $90,000 and $98,000 within three-and five-mile radii, respectively. Prominent national retailers in the immediate vicinity include Target, Walmart Supercenter, Kohl’s, Hobby Lobby, Home Depot, Regal Cinemas, JoAnn Fabrics, Bed Bath & Beyond, PetSmart, Marshalls, Shoe Carnival, Dollar Tree, Harbor Freight Tools, Walgreens, and dozens of national restaurant chains. Medina is the county seat of Medina County, and is part of the Greater Cleveland metropolitan area with a population of over two million.