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Consumer Square West

Columbus, OH

218,206 SqFt

Built in 1989


Investment Highlights

  • 93 Percent Occupied, 218,206-Square-Foot Kroger-Anchored Shopping Center in Columbus, Ohio
  • Kroger (30 Percent of Gross Leasable Area, 32.1 Percent of Total Income) In-Place Since 1989, Recently Exercised Five-Year Option AS-IS, Reasonable $8.50 per Square Foot Triple-Net Rent
  • 20.7 Years of Weighted Average Lease Tenure Amongst Tenancy
  • Across the Street from Hollywood Casino – Columbus' Only Full-Service Casino with 8,000 Daily Visitors, Over 3.6 Million Visitors Annually
  • 9.8 Percent Year Four CAP Rate: Significant Upside Via 14,985 Square Feet (Seven Percent of Gross Leasable Area) of Small-Shop Vacancies and Re-Leasing 13,000 Square-Foot Rainbow Unit at Market Rents ($5 per Square Foot Gross, 1/2023 Expiration, No Options)
  • Located within Opportunity Zone - Favorable Capital Gains Tax Incentives
  • Offers Year One Cash-on-Cash Return of 10.26 Percent and 10-Year Leveraged IRR of 19.37 Percent with Existing Assumable CMBS Terms
  • Offered with Attractive, Assumable Non-Recourse Financing: 69.1 Percent Loan to Value, 10/2026 Maturity, 4.6 Percent IR, 30 Year AM.

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