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JLL has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Streetsboro Crossing, a 89,436 square feet grocery anchored offering anchored by Giant Eagle and separately owned Target and Lowe’s. Giant Eagle is the region’s dominant grocer and one of the country’s largest private retailers with over 400 retail locations and $9 billion in annual sales.
As the trade area’s only traditional grocer, and the only Giant Eagle location within a seven-mile radius, the shopping center has a wide reach extending throughout the region. The center is located in the affluent Cleveland suburb of Streetsboro, OH and benefits from a dependable consumer base which has household incomes in excess of $115,000.
- Pandemic Proof Investment
- Strong collections of 88% during Pandemic due to necessity nature of tenancy
- Recently Renewed, Dominant Grocery Anchor
- #1 grocery by market share in the Cleveland MSA
- 20-year operating history at the Property
- Recently exercised an early 5-year renewal in 2019 with rent increase
- 7 years of WALT
- Stable Cash Flow from Necessity Based Tenancy:
- 77% of GLA and 67% of rental revenue from grocery component
- Category Leading Shadow Anchors:
- Property sits between separately owned Target and Lowe’s driving additional regional traffic
- Long Term Tenant Commitment:
- Weighted average tenure of 18 years
- Consistent Performance:
- Average 94% occupancy over the past 6 years
- Exceptional Tenant Credit Quality:
- 100% national or regional tenancy
- Prominent Frontage/Visibility:
- 52,000+ VPD on State Routes 14 (33,000 VPD) & 43 (19,000 VPD)
- Dependable & Affluent Consumer Base:
- $115,000+ Avg. Household Income within 5 Miles