Diamond Plaza | New pricing!
Retail | 6.42% CAP | 13,806 SqFt
Marketing description
Marcus & Millichap, on behalf of Ownership, is pleased to present Diamond Plaza, a 13,806 square foot retail strip center located in the Easton submarket of Columbus, Ohio (the “Offering”). The Property features a credit oriented tenant roster, led by T Mobile and Eyemart Express, which collectively represent 80% of the property’s revenue. The center offers investors stable in place cash flow supported by strong retail fundamentals within one of the most sought after submarkets in the Columbus MSA. It is further reinforced by a compound annual growth rate (CAGR) exceeding 5% and a weighted average remaining lease term (WALT) of 5.8 years, which together limit near term rollover risk.
Value Add Opportunity
New ownership will benefit from actionable value add opportunities, most notably through the lease up of the remaining 2,313 square foot rear suite. This vacancy offers creative lease up opportunities, including lease up to a new user at market rent or expansion of existing tenant spaces should it be needed. Both Eyemart and REM DDS have expressed interest in expanding their footprints. The space is presently in warm vanilla shell condition and has about 45’ of frontage.
Premier Columbus Location
Constructed in 2007, the Property is positioned within one of the most dynamic and proven retail corridors in Central Ohio. The center is shadow anchored by Easton Town Center, a nationally recognized destination with over 9.8 million annual visits per Placer.ai, ranking among the top 1% of power centers in the United States. The Property sits directly across from Whole Foods, and is adjacent to the broader Easton retail corridor, home to more than 200 national retailers. The site benefits from exceptional frontage and exposure to 42,000 vehicles per day along Morse Road and 175,719 vehicles on I 270. Additional demand drivers include proximity to Easton Market (4.6 million annual visits) and Easton Square (6.9 million annual visits), further reinforcing the Property’s visibility and regional draw.
Investment highlights
- 13,806 SF Retail Strip Center Across from Dominant Whole Foods Center
- Credit-Oriented Tenancy with 80% of Revenue from T-Mobile and Eyemart Express
- Mark-to-Market Opportunity Inside of a 10-Year Period
- Dense, Affluent Columbus MSA
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