Points East Shopping Center/Mentor, OH

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Retail

Mentor, OH

199,004 SqFt

Built in 1988

Suburban Core

97.09 Percent Occupied, 199,004-Square-Foot Grocery- Anchored Shopping Center in Affluent Cleveland Suburb
Below-Market Assumable CMBS Debt: 4.525 Percent Interest Rate, 30-Year Amortization, 7/2025 Maturity
45,852 Cars per Day – One of Busiest Intersections in Trade-Area
Anchored by Marc's Grocery Store (20 Percent of Gross Leasable Area); $544 per Square Foot in Sales (2.1 Percent R/S Ratio); Recent Extension Thru 5/2028
Six Jr. Anchors Occupy 50 Percent of Gross Leasable Area: Staggered Expirations (2024-2033); 19.1 Years Weighted Tenure
2.9 Percent Net Operating Income CAGR Thru Year Six; 2.1 Percent Net Operating Income CAGR Thru Year 10
51 Percent of Gross Leasable Area In-Place Over 25 Years; 37 Percent of Gross Leasable Area In-Place Since 1988 Construction (35 Years)
0.9-Miles to 1.2 Million-Square-Foot Great Lakes Mall – Top Mall Within 15 Miles; Top 25 Percent of Malls in Ohio