Overview

Description

Mid-America Real Estate Corporation and Anchor Associates, LLC (a licensed Ohio real estate broker) have been retained on behalf of the owner to sell the 100% fee simple interest in a 0.38-acre parcel within The Shops at Fallen Timbers, leased to a P.F. Chang’s China Bistro. This offering provides an investor a NNN ground lease with an established tenant, located in a dominant regional lifestyle center.

Highlights

• RARE LOW BASIS GROUND LEASE | UPWARD TRENDING SALES The subject property offers an incoming investor the rare opportunity to acquire a P.F. Chang’s ground lease at an extremely low basis. P.F. Chang’s pays 5% of all gross sales as base rent, which have grown by 5.2% since 2021 and 16.2% since 2020. Opened in 2007, this P.F. Chang’s location features a strong operating history at The Shops at Fallen Timbers.
• TRAFFIC-DRIVING CO-TENANCY P.F. Chang’s is situated in The Shops at Fallen Timbers, a 1.2 million square foot open-air lifestyle center, developed in 2007 to serve the growing southwestern region of Toledo, Ohio. The center is anchored by JC Penney, Dillard’s, Barnes & Noble, and Cinemark, with additional national tenants, including Red Robin (#2 ranked store in Ohio by visits), and the #1 ranked Massage Envy in Ohio by visits. The Shops at Fallen Timbers caters to over 2.1 million visits per year, according to Placer AI.
• ACCESS TO MAJOR HIGHWAY SYSTEMS The subject property is located less than one mile from a full interchange of Interstate 475 and State Highway 24 (Anthony Wayne Trail), which combine for a total of 95,000 vehicles per day. This P.F. Chang’s benefits greatly from the ease of access provided by these highway systems to the suburban Toledo communities of Maumee, Beverly, Southwyck, Perrysburg, Monclova, and Waterville. Interstate 475 merges with Interstate 75 four miles east of the property, which provides direct access north to downtown Toledo and south to Bowling Green.
• STRONG DEMOGRAPHIC PROFILE The Maumee area has average household incomes of $115,065 and median home values of $248,962 within a five-mile radius of the property. Home value increases significantly within the one-mile radius of the property, with a median home value of $276,923. Within a one-mile radius of the subject property, the population is expected to increase by 2.1% and the number of households by 4.2% over the next five years.
• PROXIMITY TO NEWER RESIDENTIAL DEVELOPMENTS & TWO PUBLIC UNIVERSITIES The Shops at Fallen Timbers is bordered to the north by three major, newer housing developments, including The Waterside housing community (600 single-family homes), Lakeside at Fallen Timbers (222 single-family and townhomes), and The Encore at Fallen Timbers (88 townhomes). Additionally, the subject property is located 9 miles southwest of The University of Toledo and 12 miles north of Bowling Green State University.

Documents

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