Dominant Market Location
Westwood Shopping Center is a Walmart Shadow Center. The next closest Walmart is over five miles away on Bay Road.
Ability to Add Value
– The center has 6,000 SF in vacancies that a new owner can lease and add to the rent roll. Of the vacancies, three units totaling 4,800 SF are adjacent to each other and can be combined.
Strong Operating History
– There are nine tenants (Dollar Tree, Rent-A-Center, Payless ShoeSource, CATO, GNC, Sally Beauty, BoRics, Check ‘N Go, and H&R Block) that have been operating at Westwood since the late 1990’s and early 2000’s.
– These tenants represent over 27,000 SF of the shopping center, or 55% of the gross leasable square feet and 62% of the gross income for the shopping center.
State Street Commercial Corridor Location
– State Street is a major commercial thoroughfare with over 1.1 M SF in retail real estate in the immediate trade area.
– Immediate trade area tenants include: Walmart, Menards, ALDI, Kroger, Planet Fitness, Hallmark, CVS, Ace Hardware, Ollie’s Bargain Outlet, AutoZone and more.
Attractive Leverage Options Available
– There are a multitude of financing options available to qualified borrowers. The property is being offered “free & clear” which will allow the buyer to enhance their yield at historically low interest rates and terms. Please inquire with Broker for more specific details.