Edmond Crossing

Highlights:

• Below Market Rents - 15% below market
• Abundant Discretionary Income - income 30% higher & cost of living 15% lower than the national averege
• Investment Grade Credit Tenants - 41% of the revenue is S&P BBB or A
• Complementary Tenant Mix - 19 tenants - 78% national, 12% regional, 10% local
• Long Term Tenant Tenure - Average tenure is 14+ years. Tenants since building was built (1995) - McDonald's, TJ Maxx, Firestone, CATO Fashions, & Jason's Deli
• Outstanding Access - 11 full turn access points
• High Volume Automobile Traffic - 66,000+ vpd at the intersection, nearly 30,000 vpd at the centers signalized main entrance.
• Abundant Parking - 5.05/1,000 sf
• Unrivaled Visitor Traffic - 1.9m visitors patronize our shops. Better than 98% of competing centers locally, statewide and nationally.

Description:

CBRE is pleased to offer for sale Edmond Crossing.   Why Edmond Crossing? - ABOVE AVERAGE disposable income, merchant sales,  quality tenant mix, tenant retention, vehicle traffic, ingress/egress, consumer foot traffic, visibility and parking.  Edmond is a wealthy suburb of Oklahoma City (25th largest metro in the USA).  Incomes in Edmond are more than 30% greater than the US average, and cost of living in OK City metro is nearly 15% less than the US average.  This dynamic leaves Edmond consumers with an ABUNDANCE OF DISCRETIONARY INCOME.  Edmond Crossing has tenants selling 5X MORE than their average store across the USA (tenant with more than 1,000 stores).  Approximately 1/2 of the income is paid by tenants with INVESTMENT GRADE CREDIT (S&P "BBB" or "A").  70% of the income is from tenants with a national footprint.  The average tenure of our tenants is over 14 years.  Edmond Crossing is on the SEQ of Broadway Extension and 33rd Street with more than 66,000 vpd.  The signalized main entrance to the center has nearly 30,000 vpd.  With 11 full turn points of ingress/egress Edmond Crossings is consistently visited 1.9 million times annually which ranks #391st of 16,363 peer group centers in the country (according to Placer-AI); better than 98% of its peer group in the USA.  With nearly 1/4 mile of frontage along 33rd street all tenant store fronts and signage have tremendous exposure.  Edmond Crossing enjoys abundant parking with a more than 5 stalls per 1,000 sf.  Superior merchant sales, quality tenants, visibility, access, consumer traffic within the center, signage, parking, and a demographic with copious amounts of discretionary income result in an investment for the discriminating investor.


Why Oklahoma City?

Greater Oklahoma City was named as the most livable community in the U.S. and a Top 10 coolest city with lowest cost of living. The city located in the heart of Oklahoma is a major metropolitan area with a population exceeding 1.5 million and was one of only 14 cities in the U.S. to gain more than 100,000 new residents over the last decade, making Oklahoma City one of the fastest growing metros in the country.

The Greater Oklahoma City region is composed of a 10-county area and a number of communities offering everything from world-class scientific research, cultural opportunities, professional sports, art and hot urban lifestyles to new suburban developments, retail hotspots and big yards to small-town charm, thriving main streets and rural bucolic bliss. 

Oklahoma City boasts an increasingly diversified economy, with aviation and aerospace making up the largest sector in both employment and economic impact. Bioscience, energy, shared services and logistics industries also play a significant role in the market. Oklahoma City’s diverse economy features multiple drivers powering its continued growth. Some of the largest industry sectors include aerospace, biotechnology, energy and government.


Investment Highlights

Edmond is a wealthy suburb of Oklahoma City (25th largest metro in the USA).  Incomes in Edmond are more than 30% greater than the US average, and cost of living in OK City metro is nearly 15% less than the US average.  This dynamic leaves Edmond consumers with an ABUNDANCE OF DISCRETIONARY INCOME.  Edmond Crossing has tenants selling 5X MORE than their average store across the USA.


List price is 67% below replacement cost (source: Cummings Midwest construction cost 2023).
98.8% occupancy.
Below Market Rents - May-2024 rents are 15% below market.
Renovated 2013 & 2020. 
Complementary Tenant Mix - 78% of income is generated by national tenants, 10% regional and 12% local. 
Average tenure of the current Edmond Crossing tenant is more than 14 years. 
5 tenants have called Edmond Crossing home since 1995 (nearly 30 years)
Investors will have the option of selling the pad ground leased to McDonalds for a significantly lower cap rate than acquisition. 
69% of income is from investment g

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