Shoppes of Wilmington
7.25% CAP Lowe's Outparcel
Marketing description
The Twist Capital Team at Colliers has been exclusively retained to offer for sale the fee simple interest in Shoppes of Wilmington, a 28,991 square foot, three-tenant retail center 100% leased to Planet Fitness, Dollar Tree, and Rent-A-Center. The property is positioned as an out-parcel to Lowe's on the signalized entrance to the dominant retail corridor in Wilmington, Ohio.
All three tenants have recently extended their commitment to the location. Planet Fitness is operated by United PF Partners, the largest franchisee in the system, and is in place under a long-term lease through December 31, 2030 with four 5-year options remaining. Dollar Tree exercised its renewal option in 2025 at a 4.8% rent increase, extending its lease through February 28, 2031 with one additional 5-year option remaining. Rent-A-Center exercised its renewal option in 2025 at a 10.0% rent increase, extending its lease through March 31, 2031.
Investment highlights
- Future Pad Site Available at the Front of the Property: 3.33-acre site with frontage on Rombach Ave supports a future pad for QSR, coffee, bank, medical, or similar use—creating additional income and value beyond existing cash flow.
- 100% Leased to Three National and Regional Operators: Fully leased 28,991 SF to Planet Fitness, Dollar Tree, and Rent-A-Center (all backed by strong national operators).
- Long-term Commitment from All Three Tenants: Planet Fitness through Dec 2030 (four 5-year options); Dollar Tree through Feb 2031 (one 5-year option); Rent-A-Center through Mar 2031.
- Built-in Rental Growth: Contractual rent increases across all tenants, with recent 2026 steps and structured option escalations in place.
- Significant Recent Capital Investment: New 2019 TPO roof, updated parking lot, and well-maintained condition throughout.
- Outparcel to Lowe's on the Dominant Retail Corridor: Prime Rombach Ave location (19,059 VPD) with strong surrounding retail including Lowe's, Kroger, and McDonald's.
- Stable Necessity-Based Tenant Mix: Recession-resistant tenant mix (fitness, discount retail, lease-to-own) with minimal e-commerce exposure.
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