Overview

Description

Foresite Capital Partners, in cooperation with Hanna Commercial Real Estate, a licensed Ohio broker, is pleased to present a new construction Sheetz located at 5160-5198 Pearl Road in Cleveland, Ohio. The subject offering features a new 15-year Absolute NNN ground lease, with 10% rental increases every 5 years during the option periods. Cleveland is the 2nd largest city in Ohio, home to over 360,000 people and serves as the anchor of the Cleveland-Akron-Canton (CSA). The property is located on an oversized 2.39-acre parcel, at a signalized hard corner, in a large sub-regional trade area. The site is 8 miles southwest of downtown in the extremely dense Cleveland infill neighborhood of Old Brooklyn. The area is home to 313,000 residents in a five-mile radius that have an average household income of $70,000. The asset’s strong fundamental real estate, combined with a new 15-year Absolute NNN ground lease to a blue-chip gas/convenience store tenant, make it an excellent net lease investment opportunity.

Highlights

• 15 YEAR ABSOLUTE NNN GROUND LEASE | EXCELLENT CREDIT
• SIGNALIZED HARD CORNER IN LARGE SUB-REGIONAL TRADE AREA
• CLOSE TO I-480 | EXCELLENT TRAFFIC, VISIBILITY & ACCESS
• EXTREMELY DENSE | CLEVELAND INFILL LOCATION
• NEW CONSTRUCTION | OVERSIZED 2.39 ACRE URBAN PARCEL

Documents

---