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Retail

Stone Creek Towne Center

Cincinnati, OH

149,441 SqFt

Built in 2007

Core Plus

Investment Highlights

  • Pad Development Opportunity: Undeveloped 0.45 Acre Pad Along Entry Drive Lane that Sits On it's Own Tax Parcel
  • Tenured Rent Roll: 21 of 27 Tenants Remain in Center from Original Development with Over 10 Years of Tenancy; 81 Percent of Base Rent from National Tenants with Over 10 Years of Tenancy
  • Best Positioned Center in Submarket: Out-Positions All Centers in Market with Entrance 700 Feet of Interstate 275 in Combination with Modern Open-Air Retail Architecture as Center was Built Between 2007-2012. Stone Creek is an Attractive Option for Tenants Looking to Relocate to the Premier Center in the Submarket
  • Regional Draw: Center is a True Regional Draw with 4.2 Million Customer Visits Over the Last Year and Over Five Miles to Nearest Location for Many of Stone Creek's Retailers
  • 85 Percent of Annual Base Rent Originates from National Tenants, Non-Nationals Comprise Only 14,420 Square Feet (9.6 Percent of Gross Leasable Area)
  • Located Within Primary Retail Trade Area Serving Colerain Township (Population is 59,000); Neighboring Retailers Drawing Traffic to the Trade Area include Kroger Marketplace, Walmart, Lowe's, Dick's, Hobby Lobby, JOANN, Bob's Discount Furniture, Marshalls, Michaels, ULTA, DSW, and More
  • Value Add Opportunity: Increase Net Operating Income by 28 Percent via Lease-Up of Vacant Suites (13,653 Square Feet) at Market Rates; Projected Year Three Net Operating Income of $3,184,351
  • Parcelization Strategy: Freestanding Credit Users Including Best Buy, Starbucks, and an Under Market Logan's Roadhouse Pad are Prime Candidates for Bifurcation

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