6540 Centers Dr, Holland, OH 43528 For Sale

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell Inc., is pleased to present the opportunity to acquire the fee simple interest in a newly renovated, single-tenant, corporate-leased Mattress Firm located in Toledo (Holland), Ohio (the “Property”).

The Property is secured by a long-term corporate net lease to Mattress Firm, featuring 10 years remaining on the initial 12-year term, two (2) five-year renewal options, and 10% rental increases every five years, providing durable, inflation-hedged cash flow with minimal landlord responsibilities. Situated on a large 1.05-acre parcel, the Property benefits from exceptional site fundamentals, including a parking ratio of 14.32 spaces per 1,000 square feet, offering meaningful future re-use flexibility and long-term fungibility. Formerly occupied by a restaurant operator for nearly 30 years, the building underwent a complete renovation in 2024 and was repositioned into a modern Mattress Firm prototype, resulting in a highly functional, low-maintenance retail asset.

The Property is strategically positioned as a prime outparcel to the institutionally owned Spring Meadows Place, a dominant 800,000+ square foot regional retail destination anchored by best-in-class national retailers including Target, Best Buy, Dick’s Sporting Goods, HomeGoods, and TJ Maxx, and shadow-anchored by Sam’s Club (92nd percentile statewide foot traffic per Placer.ai) and Walmart Supercenter (81st percentile statewide foot traffic per Placer.ai).

The Property lies within the top retail trade area in the Toledo MSA, one of the most heavily trafficked commercial corridors in the market, drawing over 9.7 million annual visitors in the immediate area (Placer.ai). Additionally, the site benefits from immediate interstate accessibility, located adjacent to the interchange of I-475 (the primary loop serving the Toledo MSA with 77,000 VPD) and Airport Highway, a major east-west arterial providing direct access to downtown Toledo (46,000 VPD). The broader Toledo MSA continues to demonstrate compelling economic tailwinds, including the first population growth recorded in the region since 1970 (2020 Census), a #1 national ranking as the best U.S. metro area for industrial employers based on workforce readiness, and a projection by Realtor.com naming Toledo as the #1 MSA for home-price growth in 2026. The region is also consistently ranked among the Top 10 U.S. markets for new business investment by Site Selection Magazine.

Further strengthening the investment profile, Mattress Firm is now part of Somnigroup, following the $5 billion merger between Tempur Sealy and Mattress Firm in 2024. The combined platform operates approximately 3,000 global retail locations, 30 e-commerce platforms, 71 manufacturing facilities, four R&D centers, and employs over 21,000 people worldwide, generating approximately $8 billion in annual revenue, significantly enhancing the tenant’s credit profile and long-term operating stability.

Overall, the offering represents a rare opportunity to acquire a newly renovated, corporate-leased net-lease asset in a dominant retail corridor, backed by strong real estate fundamentals, durable tenant credit, and long-term income visibility.