Bennett Group Marcus & Millichap has been retained to list for sale the Shoppes at Grove City in Ohio. The 24k square foot center is listed at $7,831,000 and has very attractive assumable financing.
– Sep 23, 2008 – Marcus & Millichap is pleased to present for sale the Shoppes at Grove City in the growing Columbus suburb of Grove City, OH.
This 24,207 SF shopping center is a perfect opportunity for an investor to acquire a stable asset at 91 percent occupancy, with strong leasing history, in one of the major retail corridors in the Columbus, OH metro area. With an extremely strong tenant base consisting of mostly national tenants (Verizon Wireless, Saturday's, Check 'n Go, Panda Express Ground Lease) coupled with the regional tenant base the Shoppes at Grove City is a very attractive retail asset.
Built in 2005, the Shoppes at Grove City is located in a prime retail location. Located adjacent to the 800,000 square foot Parkway Centre, the Shoppes at Grove City is surrounded by retailers such as Home Depot, Dick's Sporting Goods, Best Buy, Kohl's, Wal-MArt Supercenter, TJ Maxx, Starbucks and more.
Aug 25, 2008 - Each quarter the Bennett Group of Marcus & Millichap hold their First Thrusday's Event. This quarter it will take place on October 9th, 2008 at 7PM. This event is targeted at Commercial Real Estate Investors in the Midwest area. Most invitees are from the Chicagoland area or NW Indiana area.
This is an informal event where attendees can hold an informal round table discussion about events and happenings in the industry. 10-15 people are selected for the complimentary, dinner and drinks, invite only event.
Previous attendees include the Cloverleaf Group, Gateway Builders & Properties, The Crown Group, Interra Development Partners, Baum Realty, Martin Capital Group, Walton Street Capital, Ruttenberg Companies, Vision Realty Partners, The Bradford Real Estate Companies, Vernick Associates, Craig Yale Associates, and others.
If you would like to be considered to receive an invitation please email event coordinator W. Walker Robinson Jr. at wrobinson@marcusmillichap.com. Please include all your current contact information.
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The Bennett Group of Marcus & Millichap specializes in selling shopping centers and small office buildings throughout the Midwest.
Marcus & Millichap Real Estate Investment Services recently brokered the sale of two One National Bank (ONB) properties, located in Bicknell and Portland, IN, for $1,145,000 and $621,820 respectively.
ONB in Bicknell and Portland, IN boasts corporate guarantees by Old National Bancorp who recorded $652M in Net Worth and holds an S&P rating of BBB (Investment Grade). The leases are absolute triple net, with no management responsibilities whatsoever. These very attractive investment opportunities sold at 98% of the list price.
W. Michael Bennett, Associate Vice President Investments and John Glass, Senior Vice President Investments were listed as agents for the transaction.
Marcus & Millichap Real Estate Investment Services recently listed Oleander Pointe Shopping Center in Wilmington, NC for $5,250,000.
Oleander Pointe is a 20,885 Square Foot retail center shadow-anchored by Toys R' Us (not included in the sale). It’s 95% occupied with a strong mix of regional and local tenants including Alltel Cellular, Vision Works, Caproni’s Deli, Hair Pointe, and Columbia Beauty. The property was built in 1990 and the roof carries a warranty from Firestone through March of 2010.All tenants reimburse for Taxes, Insurance, CAM and Management Fee (15% of CAM). Several tenants have annual rent increases, and several tenants recently renewed at this location.
Oleander Pointe is located at the signalized intersection of Oleander Drive and South College Road (82,000+ Cars Per Day). It’s 1-mile from Independence Mall (Dillard’s, JC Penney, Sears) and less than 2-miles from the campus of UNC-Wilmington (11,000 students). The area is densely populated with more than 121,000 people within five miles of the property.
W. Michael Bennett, Associate Vice President Investments and Andrew Margulies, Agent, of the Chicago Downtown Office have listed the property.For more information please call 312-327-5415
National City • 4715 Indianapolis Boulevard • East Chicago, IN
SALE PENDING
Price
$875,000
Down Payment
$875,000 (100%)
Rentable Square Feet
3,998
CAP Rate
6.29%
Lot Size
0.72 acres
Year Built
2003
No. of Locations
Over 1,400
Lease Type
Ground Lease
Lease Term
20 Years
Lease Expiration Date
1/1/2023
Increases
10 Percent
Options
Four Five-Year Options
Sales
$12.9 Billion
Lease Guarantor
Corporate Guarantee
Ownership
Public
This investment opportunity is a corporately guaranteed NNN 15 year ground lease in East Chicago, IN. The AAA credit rated National City occupies a free standing 4,000 square foot building with drive through
McKelvey Center • 12187 St. Charles Rock Road • Bridgeton, MO
Price
$2,410,000
Down Payment
$602,500 (25%)
Gross Leasable Area
11,726
Price/Square Foot
$205.53
CAP Rate
7.00%
Lot Size
1.31
Year Built
2005
The Mckelvey Center is a brand new shopping center with national credit tenants such as Autozone (BBB+), Verizon Wireless, and Edward Jones. The property shares the intersection with a Kohls and Target anchored shopping centers.
Rusty Road Shopping Center • 4121 Elm Park • St. Louis, MO
Price
$3,050,000
Down Payment
$762,500 (25%)
Gross Leasable Area
10,056
Price/Square Foot
$303.30
CAP Rate
7.60%
Lot Size
1.02
Year Built
2006
The Rusty Road Shopping Center is a brand new 100% leased shopping center in St. Louis Missouri that is situated on the outlot to a Costco and Target. The property boasts a tenant roster of national such as AT&T, Lenny's Sub Shop, and Teacher Lounge.
1250 South Michigan Avenue • Chicago, IL
Price
$6,200,000
Down Payment
$6,200,000 (100%)
Gross Leasable Area
9,388
Price/Square Foot
$660.42
CAP Rate
6.08%
Lot Size
36,693 SF
Year Built
2005
Marcus & Millichap is pleased to offer a fee simple street level retail space on historic Michigan Avenue.
Fenton Shopping Center • 645 Gravois Road • Fenton, Mo
SALE PENDING
Price
$1,530,000
Down Payment
$382,500 (25%)
Gross Leasable Area
10,910
Price/Square Foot
$140.24
CAP Rate
9.28%
Lot Size
.95
Year Built
1956
Major Tenants
Kentucky Fried Chicken
Wallpaper Paint & More
Fenton Chiropratic
Doctor Johns
Marcus & Millichap is pleased to present for your acquisition review the Fenton Shopping Center, in Fenton Missouri.
Festus Pointe • 1300 Veterans Drive • Festus, MO
Price
$3,240,000
Down Payment
$972,000 (30%)
Gross Leasable Area
14,952
Price/Square Foot
$216.69
CAP Rate
7.28%
Lot Size
1.5
Year Built
2007
Major Tenants
Cecil Whitakers
Sprint
JD Nails
Pro Rehab
Jimmy John's
Marcus & Millichap is pleased to offer sale Festus Pointe Shopping Center, a brand new 14,952 SF shopping center located in Festus Missouri.
The Shoppes of New Philadelphia • 513 Mill Road • New Philadelphia, OH
PRICE REDUCED
Price
$3,094,000
Down Payment
$966,300 (30%)
Gross Leasable Area
15,165
Price/Square Foot
$212.40
CAP Rate
6.98%
Lot Size
1.5 Acres
Year Built
2007
Major Tenants
Cici's Pizza
Verizon Wireless
American Gen'l Finance
Great Clips
UPS
Vacant
Common Area Space
Marcus & Millichap is pleased to offer for sale The Shoppes of New Philadelphia, a new high quality constructed 15,000 Square Foot multi-tenant retail strip.
The Shoppes of Ashland • 1443 Claremont Avenue • Ashland, OH
Price
$1,019,000
Down Payment
$305,700 (30%)
Gross Leasable Area
4,200
Price/Square Foot
$242.62
CAP Rate
8.25%
Lot Size
19,200 S.F
Year Built
2006
Major Tenants
Verizon Wireless
Cashland Financial Services
Marcus & Millichap is pleased to offer for sale the Shoppes of Ashland in Ashland, OH.
Dodge Street Commons • 3431 Dodge Street • Dubuque, IA
Price
$3,945,000
Down Payment
$1,183,500 (30%)
Gross Leasable Area
10,400
Price/Square Foot
$379.33
CAP Rate
7.75%
Lot Size
1.644 Acres
Year Built
2008
Major Tenants
Aspen Dental
Verizon Wireless
Eye Mart Express
The Shoppes at Flint Shopping Center • 3540 Miller Road • Flint, MI
Price
$2,047,000
Down Payment
$614,100 (30%)
Gross Leasable Area
5,412
Price/Square Foot
$378.23
CAP Rate
8.25%
Lot Size
N/A
Year Built
2008
Major Tenants
Aspen Dental
T-Mobile
The Shoppes of Flint is a 5400 Square foot two tenant shopping center in the heart of Flint, Michigan's most prominent retail corridor.
W. Michael Bennett
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