Fingerlakes Crossing
75% Occupied | 8.0% CAP Rate | Ollie's Anchored
Marketing description
Cleeman Realty Group is pleased to present the exclusive opportunity to acquire Fingerlakes Crossing located at 1614 Clark Street Road in Auburn, NY. Fingerlakes Crossing is anchored by investment-grade Ollie’s and includes 12,428 SF of vacancy, creating a rare low-risk opportunity to lease up the vacancies at current market rents for substantial upside. With over 45% national-credit occupancy, recent capital improvements, built-in rent escalations, and multiple avenues for lease-up, the asset offers strong current yield along with compelling near-term value creation. The subject property features excellent access and visibility along Clark Street Road (Route 20), which sees traffic counts of approximately 12,675 vehicles per day, and is strategically positioned directly across from the Fingerlakes Mall, anchored by Bass Pro Shops, and shadow anchored by national retailers including Home Depot, Kohl’s, and Petco, all of which drive consistent traffic to the corridor.
Investment highlights
- Ollie's anchored retail center shadow anchored by Home Depot, Kohl's and Petco all driving traffic to the center
- Upside opportunity through 12,428 SF of vacant space at the center
- Located across the street from the Fingerlakes Mall anchored by Bass Pro Shop
- Strong traffic volume of 12,675 vpd along Clark Street Rd (Route 20)
- Located approximately a 45-minute drive from Syracuse International Airport
- Ollie's has exercised its option, increasing rent to $7.25 PSF
- Many tenants have maintained long-term occupancy at the property
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