Shoppes at Kenwood | Cincinnati, OH | Grocery Anchored
Premier Cincinnati Submarket | One of Ohio’s Top Retail Corridors | Future Repositioning Opportunity
Marketing description
Shoppes at Kenwood is a 119,763 SF grocery anchored neighborhood center that features a desirable tenant line-up of daily needs national retailers including Gordon Food Service and Dollar General, as well as a synergistic mix of small shop tenants with the likes of Buffalo Wild Wings, McAlister's Deli, Sherwin-Williams, Cincinnati Children's Hospital, All Fur One Medical Care, Hibbett Sports and Club Champion Golf to name a few. An investor is presented with the opportunity to acquire nearly 9 acres of prime real estate in an extremely sought-after submarket of the Cincinnati MSA, well-below replacement cost, with the ability to mark significantly below-market rents to market in the future while further curating the already synergistic tenant mix with credit enhancements and improving the growth profile of this dynamic asset.
Investment highlights
- Grocery Anchored Neighborhood Center Ideally Located In One Of The Premier Retail Corridors In The State Of Ohio | Highly Sought-after Affluent & Infill Cincinnati Submarket | Future Mark-To-Market Opportunities With Significantly Below Market Rents
- Primely Situated Less Than A Mile From The Top-Rated Mall In Cincinnati - Kenwood Towne Center | Heavily Trafficked Regional & Local Shopping Destination
- Future Repositioning Opportunity in One of Ohio's Premier Retail Corridors | Near Term Control of the Rent Roll with Nearly 65% of GLA Being Vacant, Having No Options or Only One 5-Yr Option Remaining | 93% of GLA has Only Two 5-Yr Options or Less Remaining
- Discount Fashion Warehouse doesn't have any options remaining, Dollar General only has one 5-Yr option remaining, and Gordon Food Service only has two 5-Yr options remaining
- Immediate Opportunity To Increase Cash Flow Via Lease-Up Of 15,519 SF Of Vacancy (5 Units)
- Significantly Under-Market Rents - Annual Base Rent = $14.07 PSF | Being Offered Well Below Replacement Cost
- Ideal Location in Robust Retail Corridor at Signalized Intersection Along Montgomery Rd | Excellent Access & Visibility | Less Than 1-Mile From I-71, Kenwood Towne Center & Kenwood Collection
- Primely Positioned in one of the Most Affluent, Growing, and Infill Submarkets Of the Cincinnati MSA
- Strong Leasing Momentum | Recent Extensions With Gordon Food Service, Dollar General, Discount Fashion Warehouse, Buffalo Wild Wings & Sherwin-Williams | New 10-Yr Leases With Hibbett Sports & Gracie Barra
- Highly Desirable Demographics | 3-Mile AHHI: $119,000 | 5-Mile Population: 181,000 | Projected Population Growth In The 1, 3 And 5 Mile Radius Over The Next 5 Years
- Offered Free & Clear Of Existing Financing
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