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Retail

Spring Meadows Place

Holland, OH

314,514 SqFt

Built in 1987

Core

Investment Highlights

  • 314,514-Square-Foot Regional Power Center in Holland, Ohio (Toledo MSA). Anchored by a Who's Who of Ten National Junior Box Retailers
  • 17 of 21 Current Tenants Comprising 94 Percent of the Occupied Gross Leasable Area are National Retailers
  • Irreplaceable Location – Infill Highway-Exit Real Estate at the I-475 and OH-2 (Airport Hwy) Interchange with 119,600 Vehicles per Day
  • Overall Shopping Center (Including Several NAP and Shadow Retailers Detailed Below) Saw Eight Million Customer Visits in the T12 Month Period, Making it the Busiest Retail Destination in Toledo and a Top 10 Most Visited Shopping Destination in Ohio (Source: Placer.AI)
  • Shadowed by the #2 Walmart Supercenter in a 50- Mile Radius, as well as Sam's Club, Target, Dick's, and Best Buy who Collectively Saw 5.7 Million Customer Visits in the T12 Month Period and Drive Substantial Cross-Traffic to Subject Property (Source: Placer.AI)
  • Offered Below Replacement Cost at $124.80 per Square Foot with Replaceable Rents.
  • Offers 10.39 Percent Year One Cash-on-Cash Return and 19.07 Percent 10-Year Leveraged IRR at Proposed 70 Percent Loan to Value Financing Terms
  • Junior Box Anchors Include Ashley HomeStore, T.J. Maxx, Big Lots, HomeGoods, Michaels, OfficeMax, Guitar Center, PetSmart, DSW, and Dollar Tree who Collectively Comprise 87.7 Percent of Occupied Gross Leasable Area

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