Shopping Community
Portage Crossings
1799 Portage Rd, Wooster, OH 44691
Listing Price: $8,230,000
Investment Overview
Marcus & Millichap is pleased to exclusively present for sale, Portage Crossings in Wooster, Ohio. Portage Crossings is a 100 percent occupied, 106,042-square-foot, three-tenant grocery-anchored community shopping center. Portage Crossings is being offered for $8,230,000.
Portage Crossings
Investment Highlights
- 100 Percent Occupied, 106,042-Square-Foot Three-Tenant Grocery-Anchored Community Shopping Center in Wooster, Ohio
- Complete Renovation from 2019-2022 with All-New Leases, Build-Outs and Extensive Capital Improvements
- Seller has Invested Over $3 Million in Capital Expenditures Including New Roof, All-New HVAC, Storefronts, Exterior Paint and Extensive New Built-Outs
- Marc's Reports Sales of $343 per Square Foot and Low Rent-to Sales Ratio of 2 Percent
- Marc's has Upcoming 7 Percent Rent Increase in August 2024 (Over $0.50 per Square Foot, Over $25,096 Annually)
- Ollie's Bargain Outlet (37 Percent of Gross Leasable Area) –Leased Thru March 2028; Reports Strong Sales with Low 6.4 Percent Rent-to-Sales Ratio
- Harbor Freight Tools (15.7 Percent of Gross Leasable Area) –Leased Thru January 2032 with 10 Percent Rent Increase in 2027
Listing Price: $8,230,000
Investment Highlights
- 100 Percent Occupied, 106,042-Square-Foot Three-Tenant Grocery-Anchored Community Shopping Center in Wooster, Ohio
- Complete Renovation from 2019-2022 with All-New Leases, Build-Outs and Extensive Capital Improvements
- Seller has Invested Over $3 Million in Capital Expenditures Including New Roof, All-New HVAC, Storefronts, Exterior Paint and Extensive New Built-Outs
- Marc's Reports Sales of $343 per Square Foot and Low Rent-to Sales Ratio of 2 Percent
- Marc's has Upcoming 7 Percent Rent Increase in August 2024 (Over $0.50 per Square Foot, Over $25,096 Annually)
- Ollie's Bargain Outlet (37 Percent of Gross Leasable Area) –Leased Thru March 2028; Reports Strong Sales with Low 6.4 Percent Rent-to-Sales Ratio
- Harbor Freight Tools (15.7 Percent of Gross Leasable Area) –Leased Thru January 2032 with 10 Percent Rent Increase in 2027
Investment Overview
Marcus & Millichap is pleased to exclusively present for sale, Portage Crossings in Wooster, Ohio. Portage Crossings is a 100 percent occupied, 106,042-square-foot, three-tenant grocery-anchored community shopping center. Portage Crossings is being offered for $8,230,000.
