AT&T Plaza
Retail | 8.00% CAP | 16,820 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the AT&T Plaza located at 2900-2916 North Ridge Road E in Ashtabula, Ohio (the “Property”). The Property consists of a 16,820 square foot building on 1.75 acres of land. The retail plaza features six units and is 85.02% occupied. AT&T anchors the center, which is also home to Lendmark Financial Services, First Cash Inc, Cost Cutters, and a Master Leased unit that will be signed upon close of escrow. In-Place tenants have long tenures at the Property, all with 10+ years of operating history. The AT&T Plaza has a 2,520 square foot vacancy that offers significant upside upon lease-up.
The Property is strategically located along North Ridge Road East, one of Ashtabula’s primary commercial corridors, offering strong visibility, frontage, and access. The plaza is situated near the area’s dominant retail anchors, including Walmart Supercenter, Home Depot, Lowe’s, and Ashtabula Towne Square, a regional shopping center featuring national retailers and service-oriented users that serves as a primary retail destination for the market. The location benefits from convenient access to U.S. Route 20, State Route 11, and Interstate 90. Ashtabula is located along the southern shore of Lake Erie in northeastern Ohio and functions as a regional commercial hub for the surrounding communities.
Investment highlights
ASSET: AT&T Plaza is a 16,820 retail center on a 1.75-acre corner parcel with excellent visibility and frontage along North Ridge Road E and features multiple points of access. The Property features a low-maintenance brick façade and benefits from abundant customer parking in the front and back of the building.
LONG TERM TENANTS: The current tenants have long operating histories at the Property with 10+ years of tenure, demonstrating strong tenant loyalty and a clear preference for this location. AT&T has operated at the Property since 2014 and has 2+ years of term remaining on their lease followed by one (1), 3-year option; Lendmark Financial Service has operated since 2009 with 3+ years remaining their lease; First Cash has operated since 2015 and has 5+ years remaining on their lease with one (1), 5-year option; and Cost Cutters has operated here since 1999 and has 4+ years remaining on their lease.
UPSIDE POTENTIAL: The Property will be 85.02% occupied at close of escrow by four tenants and a master-leased space; the plaza offers an immediate valueadd opportunity through the lease up of the remaining 2,520 square-foot vacant space. Additionally, Lendmark Financial Services and Cost Cutters do not have any remaining options, allowing for an investor to add value by signing new, long-term leases at the end of their terms.
DYNAMIC ANCHOR: AT&T operates more than 5,000 retail locations across the United States, including approximately 2,000 company-owned stores, with additional distribution through authorized dealers and third-party retailers. This location is operated by Prime Communications, the largest AT&T National Authorized Retailer. Prime Communications operates hundreds of AT&T-branded retail locations nationwide and maintains a broad, geographically diversified footprint. As AT&T’s largest authorized retail partner, Prime benefits from significant scale, operational expertise, and a long-standing strategic relationship with AT&T.
STRATEGIC RETAIL LOCATION: AT&T Plaza is prominently located along North Ridge Road East, a major retail and commuter corridor in Ashtabula, offering excellent visibility and access in a high-traffic commercial area. The Property is positioned near several of the market’s dominant national retailers, including Walmart, Home Depot, Lowe’s, and Ashtabula Towne Square, a regional shopping destination anchored by national brands and service providers. The location is further supported by convenient access to U.S. Route 20, State Route 11, and Interstate 90, providing strong regional connectivity throughout Northeast Ohio.
TRAFFIC COUNTS: More than 21,000 vehicles pass by the Property every day at the signalized intersection of North Ridge Road E with Ashtabula Mall Boulevard.
DEMOGRAPHICS: Over 20,054 people live within 3 miles of the Property with an average household income of $61,251, and there are more than 13,200 employees working within the same 3-mile radius of the Property.
RETAIL TRADE AREA: Additional retailers driving traffic to the area include Walmart Supercenter, Home Depot, Lowe’s Aldi, Tractor Supply, Harbor Freight, McDonald’s, Sheetz, Planet Fitness, Five Below, Pet Supplies Plus, Advance Auto Parts, Family Dollar, Applebee’s, Bob Evans, Burger King, Aaron’s, Mattress Firm, KFC, Aspen Dental, Chipotle, Red Lobster, Dunkin’, Dollar General, Steak ‘n Shake, Jimmy John’s, Papa John’s, and others.
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