2891 Waterloo Rd
Akron, OH 44312

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Marc’s Plaza in Akron, Ohio. The subject property is a 63,382-square-foot, 100 percent occupied grocery anchored shopping center constructed in 1962, renovated in 2014 and situated on 4.81 acres. The subject property is anchored by Marc’s grocery store, a Cleveland-based discount grocery chain with over 60 locations throughout northeast and central Ohio. Marc’s occupies 68 percent of the gross leasable area, totaling 43,050-square-feet, and just extended to provide over nine years remaining on its triple-net lease. Marc’s is responsible for 61 percent of the center’s rent and reimbursment revenue, reports strong sales exceeding their breakpoint, and pays percentage rent. Other tenants at the center include Dollar Tree, Johnny J’s Pub & Grille, Great Clips, Altima Tan, and Nail Fever. Dollar Tree occupies an 8,372 square foot inline unit adjacent to Marc’s and is leased to triple-net terms through May 2023. Johnny J’s Pub & Grille is a popular and successful local restaurant chain with five locations throughout Cleveland and Akron. They occupy a 5,000-square-foot endcap unit with outdoor patio and have over 4 years remaining on their original 11-year lease, with a ten percent rent increase in January 2022. Great Clips, Altima Tan, and Nail Fever all occupy inline units ranging from 1,800 to 2,800 square feet, and are all leased to triple-net terms. Marc’s Plaza benefits from the traffic generated by the long-term net-leased grocery anchor, ease of management from the small tenant roster, and its complimentary mix of retailers, restaurants, and internet-resistant service-oriented businesses. Marc’s Plaza is located along East Waterloo Road/Route 224, a major east-west thoroughfare that sees 31,490 cars per day. Additionally, the subject property is just east of the intersection of Route 224 and Canton Road with combined traffic counts of 53,483 cars per day. The world famous Goodyear Blimp is housed just 2.5 miles west at the Goodyear Wingfoot Lake Airdock, home to the new Wingfoot Two airship, one of only three active Goodyear airships in the United States. Demographics in the surrounding area are strong, with 43,220 residents within three miles and 123,901 residents within five miles. Prominent national retailers in the immediate vicinity include Giant Eagle, Pet Supplies Plus, CVS, AutoZone, McDonald’s, Chase Bank, Taco Bell, KFC, Papa John’s, Wendy’s, Burger King, O’Reilly Auto Parts, and Pizza Hut to name a few. The Akron MSA has a population of 700,000, and is within the larger Cleveland-Akron-Canton CSA with a population of 3.5 million