5-MILE TRADE AREA
- Population 280,217
- Daytime Population 379,139
- Median Age 34
- Households 118,864
- Status AVAILABLE
- Price $ 8,897,000.00
- CAP Rate 7.25%
- Building Size 109,962 SF
- Land Area 19.150 acres
Grocery Anchored Shopping Center
Southwest Square is anchored by a 58,890 square foot Kroger. Kroger (NYSE: KR) operates under twelve different banners including Kroger Marketplace, Food 4 Less, Smith's, and Ralphs. In total, the Kroger Company includes 2,796 stores throughout 35 states. With a Baa1 credit rating, Kroger is one of the Midwest's most successful grocery chains, operating in states including Ohio, North Carolina, Michigan, Indiana, and Tennessee. Headquartered in nearby Cincinnati, Kroger's primary market for the Kroger banner is in Ohio, where approximately 19% of its store base is located.
Superior Kroger Sales and Convenient Fuel Station
The Southwest Square Kroger store boasts strong sales of $566 per square foot. The Kroger Fuel Station, built in 2010, adds an extra level of convenience to loyal Kroger shoppers.
Strong In-Place Cash Flow with Value Add Potential
With over 80% of revenue being generated from national tenants, Southwest Square represents the opportunity to acquire a quality retail asset with stable in-place cash flow generated from a top performing grocer, with the ability to add value through the lease up of 12,220 square feet of vacancy.
The Southwest Square offering features 3.20 acres of development land that is zoned commercial manufacturing and can accommodate approximately 11,700 square feet of buildings or three outparcel pads.
Just four miles south west of downtown Columbus, the property boasts prime frontage on Harrisburg Pike, one of the main commercial thoroughfares in southwest Columbus sub-market. The area immediately surrounding and directly influencing the property is improved with a mix of commercial and dense residential properties. Harrisburg Pike is easily accessible from Interstate 70. The local market exhibits dense demographics.
Effective Gross Revenue Generated from National Tenants
National Tenants: 81%
Remaining Tenants: 19%
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