SOLD – Hawthorne Shops

Marketing Description

• Sam’s Club shadow anchored center in Cleveland, OH
• One of the largest and most successful retail centers in Southeast Cleveland
• Shops space benefits from traffic generated by Sam’s Club, Ollie’s, and Levin’s Furniture on either side
• Upside in leasing the existing vacancy (6,500 SF and 2,922 SF)
• Strong traffic counts of over 15,000 VPD on Broadway Avenue and 100,000 VPD on I-480
• Great access from Broadway Ave and visibility from I-480 and Broadway Ave with four total entry points and two stop lights
• 250,000 people with an average household income of over $74,000 within a 7 mile radius
• Supported by some of Cleveland’s fastest growing residential communities and local municipality
• The only Sam’s Club and one of only two discount wholesale clubs serving Southeast Cleveland

Investment Highlights

• Recent LOIs and Leases show tremendous leasing momentum at the center
• Woodcraft and PMFCLE Fitness are the only tenants that have options, allowing for Landlord flexibility with renewals
• Recent lease with PMFCLE Fitness at $12 psf and Chic Beauty Supply at $8.00proves there is the ability to increase rents substantially
• Internet resistant tenant mix
• The Tile Shop has been a long-time tenant at the center since 2003 and recently executed a renewal through 2027