Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell Inc., is pleased to present the opportunity to acquire the fee simple interest in a newly renovated, single-tenant, corporate-leased Mattress Firm located in Toledo (Holland), Ohio (the “Property”).
The Property is secured by a long-term corporate net lease to Mattress Firm, featuring 10 years remaining on the initial 12-year term, two (2) five-year renewal options, and 10% rental increases every five years, providing durable, inflation-hedged cash flow with minimal landlord responsibilities. Situated on a large 1.05-acre parcel, the Property benefits from exceptional site fundamentals, including a parking ratio of 14.32 spaces per 1,000 square feet, offering meaningful future re-use flexibility and long-term fungibility. Formerly occupied by a restaurant operator for nearly 30 years, the building underwent a complete renovation in 2024 and was repositioned into a modern Mattress Firm prototype, resulting in a highly functional, low-maintenance retail asset.
The Property is strategically positioned as a prime outparcel to the institutionally owned Spring Meadows Place, a dominant 800,000+ square foot regional retail destination anchored by best-in-class national retailers including Target, Best Buy, Dick’s Sporting Goods, HomeGoods, and TJ Maxx, and shadow-anchored by Sam’s Club (92nd percentile statewide foot traffic per Placer.ai) and Walmart Supercenter (81st percentile statewide foot traffic per Placer.ai).