Cinemark
Retail | 10.74% CAP | 34,785 SqFt
Investment highlights
• Newer-Constructed Single-Tenant Cinemark Theater: 5 Years Remaining, Huge Reported Sales
• Explosive Site-Level Sales Growth Reported (+12% since 2023, +52% over 2022, +120% over 2021, +467% over 2020)
• Shadowed by #1 Trafficked Giant Eagle in Ohio (#6 out of 205 Chainwide), with1.6M/Year Visitors - source Placer.ai
• Below-Market, Covered Land Play Opportunity: $350K NOI on +/- 9.5 Acre Tract; Very Low +/- 8.4% Building : Land (FAR) Site Coverage / Redevelopment Opportunity
• Significant Upside via Over-Assessed RE Tax Valuation (Unreimbursed); Projected 10.7% CAP after Reducing Tax Value
• Located at 52,290 VPD, High-Traffic Signalized Intersection
• Corporate Guaranty: Publicly Traded (NYSE: CNK) with $3.0B Market Cap, and BB-/Stable Fitch Credit Rating
• #2 Ranked of 18 Ohio Cinemark Locations in by Visits/SF; 417K Customer Visits/Annually
• Synergistic Co-Tenancy Users within Development: Grocery, Fitness, Food, Banks, Medical/Services, etc.
• $1/SF Rent Increases in each of Remaining (4) 5-Year Options
• Strong Visits/SF Ranking Indicative of Strong Performance Relative to Larger Cinemark Theaters; Smaller-Scale 10 Screen/35K SF Format
• Within Walking Distance to Cuyahoga Falls’ New High School - $120 Million, 360,000 SF School + Stadium Complex
• Dense Infill Middle-Income Demographics: 11,600/1-Mi &158,800/5-Mi Population Counts; AHHI of $79 - $85K in 1/3/5-Mi Radi
• Akron MSA – Home to a Population of 700,000 and Part of the Larger Cleveland-Akron-Canton CSA with a Population of 3.7 Million
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