Village Green Shopping Center

Listing Village Green Shopping Center Price:$2,315,000 Status:For Sale The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the Village Green Shopping Center located in Cleveland, Ohio. The property is being offered for $2,315,000, representing an 8.85% CAP and projected 14.09% cash-on-cash return. The offering also includes a buildable outparcel that could be developed to accommodate a small retailer creating even more value to the property. The Save-a-Lot (subsidiary of SuperValu Inc., NYSE: “SVU”/S&P “B+”) anchored center provides an investor the opportunity to acquire a stable, well-tenanted grocery anchored center in a densely populated community. This Save-a-Lot location is an excellent performing location with store sales in the top 20% in the region. The immediate area boasts an enormous amount of multi-family housing that surrounds the property and the residential communities find that the center provides the products and services that are a necessity for daily needs. The center is 95% occupied with below market rental rates, and the 46,301 square foot center is located along the main business corridor. Positioned on Euclid Avenue near the main intersection of Euclid Avenue and Green Road, Village Green has an inviting appearance, due to its newer facade (2011), brick construction, fully signalized entrance and prominent pylon signage. The center has continued to lease-up quickly, showing consistent leasing traction ensuring future stability, as evidenced by the new 11,000 square foot, A Dollar, that started in 2013 and is in place through 2028. U.S. Route 20 is an east-west United States highway that is a coast-to-coast route. The route parallels I-90. Route 20 as it passes through the eastside and Downtown Cleveland in known as Euclid Avenue. Euclid Avenue is one of the most widely known and heavily traveled roadways in the area. Commuters can easily access I-90 nearby or continue on Euclid Avenue all the way to Downtown Cleveland. Cleveland boats many corporate headquarters for major corporations such as The Cleveland Clinic, University Hospitals, American Greetings, Eaton Corporation, Sherwin-Williams Company, KeyCorp., Progressive Auto Insurance, TRW, Office Max and BP. Additionally, Cleveland is home to main operating facilities for NASA, Glenn Research Center, and Jones Day. Euclid Avenue is also highly traveled to reach prominent Cleveland destinations, such as University Circle, Progressive Field, Quicken Loans Arena, the Rock and Roll Hall of Fame, First Energy Stadium, and the Great Lakes Science Center. Along with main attractions, the center also draws students living in the suburbs attending Case Western Reserve University (5 miles, 7,729+ students), Cleveland State University (10 miles, 11,000+ students), Cuyahoga Community College (10,927+ students), and John Carroll University (5.7 miles, 3,861+ students). With the vast amount of employees and residents in the area, Village Green is positioned with attributes to thrive for many years to come.

Village Green Shopping Center