PORT CLINTON PLAZA SHOPPING CENTER

INVESTMENT HIGHLIGHTS

• GROCERY ANCHORED – The Asset is Anchored by Bassett’s Hardware & City Market –a multi-unit, Local northwest Ohio staple in the community with ±4 locations.
• VALUE ADD POTENTIAL – The majority of tenants in the center are on gross leases, with the opportunity to transition into NNN leases as they come due and increase new ownership yield substantially in years 3-5 of ownership.
• SERVICE BASED | INTERNET RESISTANT– The asset consists of a strong mix of local and regional service-based tenants. Rite-Aid, Anytime Fitness, and Bassett’s Hardware & City Market attract the community for services and needs that cannot be replaced by online sales. Rite Aid also provides one of the only pharmacies in the market.
• THRIVING VACATION COMMUNITY – Despite its modest year-round population, this Northwest Ohio town on the shores of Lake Erie transforms into a bustling haven for summer vacationers, increasing summer population and traffic exponentially. Port Clinton is known for world-class fishing, miles of beautiful Lake Erie shoreline, boating, beaches, island ferries, shopping, and entertainment.
• SIGNIFICANT CAPEX ADDED – Throughout the past 2 years, ownership has completed significant renovations on the property, putting close to $300,000 of capital improvements to the site, providing new ownership with minimal capex upon completion of purchase.
• LONG TERM ANCHORS – Rite Aid, Anytime Fitness and Bassett’s Hardware and City Market make up 42.7% of the assets GLA, all of which recently signed extensions through 2030. Additionally, Habitat for Humanity is under construction on a BTS Out Parcel, providing the long-term viability of the site and new construction to attract potential customers or users into the Plaza.