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Friedman Brokerage Company and Ten-X.com present the sale of Park Square Center located in the Columbus suburb of Grove City, Ohio. The property is a multi-tenant neighborhood retail center containing ±58,216 rentable square feet. The center consists of three buildings constructed in 1995, situated at the corner of Stringtown and McDowell Roads. Park Square Center is located in a dense retail corridor along Stringtown Road, just west of Interstate 71. The property sits adjacent to a Walgreen’s (not included) that occupies the hard corner at Stringtown and McDowell Roads. The property benefits from its large signage along Stringtown Road, and possesses excellent visibility from McDowell Road. Currently 90.57% occupied, Park Square has a diverse tenant mix of national and local retailers including Volunteers of America of Greater Ohio, USPS, Fazoli’s Restaurant, and a variety of other small shop tenants. Retailers in the immediate vicinity include Walmart, Home Depot, Target, Kmart, and more. Occupancy in the surrounding retail corridor is currently 97.30% and has demonstrated year over year improvement for the last 6 years.
INVESTMENT HIGHLIGHTS
- REO ±58,216 RSF neighborhood retail center
- Consistently high occupancy with diverse tenant roster of national and local brand-recognized retailers
- Restaurant outlot (Fazoli’s) is set on its own parcel and has potential to be sold apart from the shopping center as a NNN leased investment
- Significant market window - the center faces both McDowell Road and Stringtown Road
- Combined traffic counts in excess of 45,000 VPD for Stringtown, McDowell and Gantz Roads
- Well-positioned real estate serving Grove City and draws residents of Southwest Columbus
- Adjacent to the 332,000 SF RRD Columbus Print Fulfillment & Distribution facility
Broker License Info: Sarah H. Sykes | SAL 2010003756 | Ohio This property will be auctioned on Monday, September 11 - Wednesday, September 13 . The price displayed is the starting bid amount of $1,300,000. For information and to register to bid on this property, please visit Ten-X.com.