Saturday, February 8, 2014

Shoppes at Glendale

 Listing Shoppes at Glendale

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the Shoppes at Glendale, a 10,050 square foot retail center built in 2005, shadow anchored by a Wal-Mart Supercenter. The property is located in Toledo, Ohio, and is offered for $1,800,000, representing an 8.20% CAP Rate. The center offers a collection of well-known tenants providing the area with a variety of businesses to meet the demand of the market. The 100% occupied center has a very inviting appearance located in the heart of the retail corridor. Most of the tenants have recently extended their leases, further exemplifying their commitment to the location and the community.

The Shoppes at Glendale is positioned along a main roadway with highly visible signage providing easy access. The property sits directly in front of The University of Toledo Medical Center and Medical College. The 227-bed, academic medical center/hospital provides high levels of expertise, resources to handle the most complex cases, and access to the latest and safest medical advances. The academic training facility and hospital serves the entire region drawing patients to the area. Directly across from the property is the Wal-Mart Supercenter, along with other national retailers, including: Panera Bread, Aldi, Ruby Tuesday, Bob Evans, Payless, TanPro and Sally Beauty. Furthermore, the property is located just 2.3 miles from I-80/90, which is a perfect location for commuters to Toledo and the neighboring areas of Maumee, Holland and Sylvania. The Ohio Turnpike carries easy-west traffic on Interstate 80 and Interstate 90. The turnpike connects Toledo to South Bend, Indiana and Chicago, Illinois to the west and Cleveland to the east.

The largest employer in Toledo is the University of Toledo (Approx. 3 miles from the featured property). The university boasts more than 23,085 students and nearly 2,300 members of an academic staff. The University of Toledo also has a 160-acre satellite campus in the Scott Park neighborhood; the Center for the Visual Arts is located in Downtown Toledo at the Toledo Museum of Art; and a research and education facility, known as the Lake Erie Center, is at the Maumee Bay State Park. HCR Manor Care is a health care company that is an up-and-coming Fortune 1000 company headquartered in Toledo. The metro area is also home to three Fortune 500 companies: Dana Corporation, Owens Corning and Owens Illinois. Additionally, Fifth Third Bank’s Northwest Ohio headquarters is in Downtown Toledo. With the property’s strategic placement in the main retail corridor and high-quality tenants, the asset is positioned to be a high-quality investment for years to come.

Shoppes at Glendale

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