DEALS

Deals

Freys Hill – Louisville, KY

THE OPPORTUNITY

  • ​87% of the GLA is made up of National Tenants
  • ​Freys Hill is one of the only centers in the Springhurst trade area with Westport Rd. street visibility.
  • ​PetSmart at Freys Hill is the only national pet supply store within 10 miles
  • ​The asset is currently subdivided into three separate parcels allowing for future sale of individual assets including the PetSmart and Starbucks by future owners
  • ​The anchor tenant PetSmart has been in the center since it was built in 2003
  • ​Strong traffic counts with 35,572 VPD
  • ​E-Commerce resistant tenant mix with 70% of GLA made up of non-soft goods retail
  • ​Located at the High-profile intersection of Westport Rd. and Freys Hill Rd
  • ​One of PetSmart’s few locations where a Pet Hotel is operated on site

THE DEAL POINTS

  • Square Feet: 58,726 SF
  • Asking Price: $13,530,000
  • NOI: $1,082,326
  • Asking Cap Rate: 8.00%
  • Remaining Term: 10 years

THE HIGHLIGHTS

  • ​Springhurst in the leading regional retail trade areas in the Louisville market
  • ​Recent PetSmart and Party City ten-year renewals
  • ​Unrivaled location with Westport Rd frontage in the Springhurst trade area.​
  • ​Strong PetSmart sales over $8,200,000 ($278 psf) putting the store at a health ratio of 7.19%
  • ​Strong traffic counts with 35,572 VPD on Westport Rd.​
  • ​Anchor tenants have been in the center since it was constructed
  • ​Great synergy within the market with the Target, Walmart, Meijer, Kohls, Hobby Lobby,
  • ​Home Depot, Dicks, Cinemark, TJ Maxx and HomeGoods all in the immediate trade area