The Shops at Avery

Short Description:
The Cooper Commercial Investment Group is pleased to announce the sale of The Shops at Avery (Avery Shops) located in Dublin, Ohio. Dan Cooper, President and Broker of the Cooper Commercial Investment Group in Cleveland, Ohio had the privilege to represent the owners out of Columbus, Ohio. The Buyers were a private group also local to the market and were found within the first five days of listing the property for sale. The sale of the multi-tenant retail property was for $5,050,000, equal to $366.00 per square foot and a CAP Rate of 8.69%.

Details
With 100% occupancy, the plaza has a diverse collection of targeted national/regional retail tenants, including: Huntington National Bank (S&P “BBB+”), FedEx (S&P “BBB”), Caribou Coffee, Potbelly’s and Matt the Miller’s Tavern. The Shops at Avery is the only center on the Avery-Muirfield corridor that has both frontage and signage on Avery-Muirfield Drive. The Shops at Avery is located in an economically strong residential community with average household incomes in upwards if $121,000 within a 3-mile radius of the featured property and is centrally located on the main retail corridor. The center sits directly across from a Kroger anchored center, Giant Eagle anchored center, Chipotle, Walgreens, Panera Bread and many other well-known national tenants. The plaza also services a number of office buildings and a high demographic residential area. Additionally, this location services a recently completed $130MM, 94-bed hospital development with an attached medical building, along with a number of detached medical office condominiums. The Shops at Avery is conveniently located near I-270, just minutes from Downtown Dublin and easy access to Downtown Columbus and the Ohio State University, which attracts over 52,000 students to this retail hub. The Cooper Commercial Investment Group looks forward to working with parties interested in selling or looking to acquire such assets, and encourages you to contact them for an evaluation of your commercial property. Visit them on-line at www.coopergrp.com for the most up-to-date listings and information.