Stabilized Unanchored Strip Center with Upside Potential
--Average in place rent of $15.60/sf, which is 30% below submarket asking rent
--33% of GLA does not have fixed rate contractual renewal options
--Ability to purchase adjacent land parcel between center and Grace Drive (separate from collateral)
Affluent Demographics with Positive Population Growth
--6% Increase from 2019-2024
--AHHI is $234k within a 3-mile radius
Recent Capital Expenditures
--Ownership has invested over $3M in tenant capital and physical capital improvements including building improvements, updated HVAC & electrical, and improvements to the parking lot and walkways
Exceptional Leasing Momentum | Nine (9) New Leases Across 23,300 SF (59% of GLA) Over Past Three Years
--Ownership has converted the entire asset to NNN during hold period (previously less than 50% of GLA)
Strong Trade Area With Multiple Demand Drivers
--Powell Center is strategically located just east of downtown Powell along Olentangy Road (VPD: 12,557) and is short proximity from national retailer and local demand drivers