1635 River Valley Cir S
Lancaster, OH 43130
Auction:5/8 - 5/10: River Valley Mall · Retail Property For Sale

Property tours are available upon request. Please contact Thomas Dobrowski at 212-372-0751 or TDobrowski@ngkf.com to schedule a tour. Investment Summary: Newmark Grubb Knight Frank has been exclusively retained to market to qualified investors the opportunity to acquire River Valley Mall (the "Property" or "Mall"), a dominant regional mall located in Lancaster, Ohio. The Property was constructed in phases between 1987 and 2014 and fully renovated in 2013. The Mall consists of approximately 521,674 square feet of owned gross leasable area, situated on 61.91 acres of land. River Valley Mall is located 27 miles southeast of Columbus, OH and sits just off of N. Memorial Drive, the major thoroughfare through the heart of Lancaster and parallel to U.S. Route 33. The Property possesses a host of fundamentally-desirable investment characteristics, including a healthy net operating income of $3.1 million (FY 2018), quality major tenants such as Cinemark (new construction), Dick's Sporting Goods, Old Navy and Ulta, in addition to strong in-line tenant sales north of $350 PSF. Included outparcels in the sale consist of Applebee's, Best Buy and OfficeMax. Important Highlights: *Healthy and Stable in-line sales performance in excess $350 PSF *Strong and stable in-place cash flow of over $3.1M (FY 2018) *Ownership includes all anchors, majors, in-line space and four of the six outparcels, providing value-add opportunity in the lease-up of the vacant anchor box, outparcel pad, and in-line space *Quality, well performing, new national tenants such as Cinemark (exp. 8/2029), Dick's Sporting Goods (exp. 1/2021), Ulta (exp. 2/2022), and Old Navy (exp. 7/2019) which create a vibrant and modern shopping atmosphere *Outparcel tenants include established national tenants such as Applebee's, Best Buy, and OfficeMax *Over $5.0M has been spent since 2013 to renovate the Mall's interiors and exteriors including multiple high-impact visual modifications *Population growth in the City of Lancaster (a bed-room community to Columbus) has outpaced that of the State of Ohio and United States over the past five years *Located in the nexus of commercial and retail activity in Lancaster, the Mall is surrounded by in demand retailers such as Walmart, Lowe's, Meijer, Kroger, T.J. Maxx, IHOP, Red Lobster, and Target, which drive addi