Nagel Crossing
Retail | 6.50% CAP | 16,563 SqFt
Marketing description
Nagel Crossing is a trophy new construction retail offering in the affluent West Cleveland trade area. This 3-building, 100% leased development features national tenancy and strong embedded rent growth, positioned at the signalized hard corner location of Nagel Rd & Chester Rd with immediate access to I-90 Interchange - 89,090 VPD.
The property is surrounded by major retailers including Costco, Target, Walmart, Lowe's, Meijer, Dick's, and Cabela's, and is adjacent to Cleveland Clinic Avon Campus - a major employment driver with a $340M planned expansion. The trade area boasts an affluent and dense demographic profile with $161K+ AHHI within 1 mile, 50,000+ residents within 3 miles, and 118,000+ within 5 miles.
This e-commerce resistant tenant mix includes food, beverage, fitness, and service retail - all daily needs drivers. The property features predominantly NNN lease structure with reimbursement for administrative fees, a WALT of 7.6 Years with limited near-term rollover, and includes a free standing STNL Starbucks with Drive Thru on a 10 Year Lease.
Investment highlights
- Signalized Hard Corner Location at Nagel Rd & Chester Rd with Immediate Access to I-90 Interchange - 89,090 VPD
- Newly Constructed 2024 Multi-Building Retail Development in Affluent Cleveland Market
- Free Standing STNL Starbucks with Drive Thru – 10 Year Lease
- WALT - 7.6 Years - Limited Near-Term Rollover
- Predominantly NNN Lease Structure with Reimbursement for Admn Fees
- Shadow-Anchored by Major Retail Corridor - Avon Commons - 7.8M Annual Visits
- Surrounded by National Retailers - Costco, Target, Walmart, Lowe's, Meijer, Dick's, Cabela's, etc.
- Adjacent to Cleveland Clinic Avon Campus - Major Employment Driver - $340M Planned Expansion
- Affluent & Dense Demographic Profile - $161K+ AHHI (1-Mile), 50,000+ Residents within 3 Mi, 118,000+ within 5 Mi.
- E-Commerce Resistant Tenant Mix - Food, Beverage, Fitness, Service Retail – Daily Needs Drivers
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