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Retail

Springfield Commons

Toledo, OH

271,690 SqFt

Built in 1999

Value Add

Investment Highlights

  • 76.4 Percent Occupied, 271,690-Square-Foot Kohl's-Anchored Regional Shopping Center in Toledo, Ohio
  • Substantial Lease-Up Opportunity: 35,000-Square-Foot Recently Vacated Bed Bath & Beyond and Seven Vacant Small-Shop Bays; 38 Percent Net Operating Income Increase Projected from Year One to Year Three
  • Kohl's Occupies Single-Story Unit (32 Percent of Gross Leasable Area); Tenant Since 1998 and Ranks Top 28 Percent Nationally
  • Recent 11-Year NNN Lease with Burlington (14 Percent of Gross Leasable Area); #3 Ranked of 25 Stores in Ohio
  • 10-Year Triple-Net Lease with Planet Fitness thru July 2028 (11.5 Percent of Gross Leasable Area); Ranks Top 27 Percent Nationally
  • 100 Percent National Tenant Roster Including Kohl's, Burlington, Planet Fitness, Old Navy, Shoe Carnival, Ulta, Five Below, Penn Station and Honey Baked Ham
  • Newer TPO Roofs Over Kohl's, as well as the Burlington-Anchored Portion - Collectively 60 Percent of Gross Leasable Area, Both Installed Since 2015
  • Offered Free and Clear of Debt Allowing Purchaser to Obtain New Perm or Bridge Debt According to Investment Strategy

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