Kintaro - Brooklyn, OH (Cleveland MSA)
Low Price Point Casual-Dining | 10 Years of Term | Cleveland MSA | 6.85% Cap
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the ownership interest in a 7,819 square foot freestanding, single-tenant Kintaro located at 7325 Northcliff Ave in Brooklyn, OH ("Property" or "Asset").
The Asset is 100% leased to Nagoya Sushi & Hotpot Restaurant Inc, dba Kintaro, (the "Tenant"), a Japanese restaurant chain with 5 locations across Ohio. The Property features ±10.0 years remaining, a near-term 46% rental escalation in August 2026 due to strong sales numbers, 12.5% rent escalations every five-years thereafter, two, 5-year renewal options and minimal landlord responsibilities.
Brooklyn, Ohio is located in Cuyahoga County, the second largest county in Ohio, which is known for its diverse economy and educational institutions. Due to the area's strong road networks, nearby access to Cleveland Hopkins International Airport (5 miles away) and the Port of Cleveland, the area's history is rich in manufacturing which has supported a recent boom in healthcare, biomedical and financial sectors. The Cleveland retail market and submarkets have demonstrated strong fundamentals, with retail availability under 2% in the city of Brooklyn.
Most notably, the Property is located as an outparcel to Ridge Park Square Shopping Center, a 386,754 SF center with 46 tenants. Ridge Park Square is a regionally dominant shopping destination, generating over 6.9 million visits annually and ranking as the 2nd most visited shopping center in the state of Ohio. Additionally, the Property possesses frontage along Ridge Road and Northcliff Avenue with direct visibility to more than 33,350+ vehicles per day and benefits from the Interstate 480 interchange (±150,000 VPD), that feeds directly to Ridge Road and the many points of ingress and egress for Ridge Park Square.
This unique opportunity allows investors the ability to acquire an outparcel to a nationally ranked retail center located in Brooklyn's dense commercial corridor with minimal landlord responsibilities.
Investment highlights
- Highly Rated & Expanding Ohio-Based Restaurant: Kintaro is a regional Japanese restaurant chain with 5 locations across Northeast Ohio and actively expanding.
- 10 Years of Primary Lease Term Remaining: The Property features ±10.0 years of remaining primary lease term remaining.
- Large Near-Term Rental Increase: A significant 45.8% rent escalation takes effect in August 2026, driven by the tenant's strong sales performance.
- 12.5% Rent Escalations Every 5 Years: Built-in rental growth with 12.5% increases every five years throughout the lease term and renewal options.
- Minimal Landlord Responsibilities: NN lease structure with minimal landlord responsibilities.
- Prime Retail Location: Situated as an outparcel to the Ridge Park Square shopping center, which attracts 6.9 million visitors annually.
- Excellent Highway Access & Visibility: The property is adjacent to Exit 15 of Interstate 480, which has high traffic counts of over 149,000 vehicles per day.
- Dense Residential Population: The surrounding area features a dense population of +331,000 people within a five-mile radius.
- Proximity to Major Travel Hub: The Property is located near Cleveland Hopkins International Airport (11M annual flyers).
- High-Traffic Shopping Destination: Benefits from being part of Ridge Park Square, a major retail hub anchored by tenants like TJ-Maxx, Grocery Outlet, and Michaels.
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