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Village at the Mall7508-7654 Mall Road • Kentucky SR18Florence, Kentucky 41042 (Greater Cincinnati Market)
100% Leased Multi-TenantRetail Center with Outlots
INVESTMENT OPPORTUNITY CORE ASSETREGIONAL MALL CENTER
Cassidy Turley’s Institutional Services Group is pleased to announce it has been retained by the Owner to act as the exclusive marketing
agent in the sale of the Village at the Mall located on Mall Road at Kentucky SR18, Florence, KY (Boone County). The offering represents
the rare opportunity to acquire a high cash flow, Class A retail center situated at the entrance of the area’s premier enclosed regional mall.
The Offering – Stabilized Regional Mall Center with OutlotsVillage at the Mall consists of two freestanding NNN retail parcels, a recently renovated and retenanted 100% leased multi-tenant retail
center, and a two-tenant retail outlot building to be built. Purchaser must build the outlot building. The Owner will deliver a fully approved
and entitled site plan with signed leases from Aspen Dental and Five Guys Burgers so that construction on the outlot building can begin
November 2011.
Location:
7508-7654 Mall Road, Kentucky SR18
Florence, Kentucky 41042
Boone County (Greater Cincinnati Area)
Components of Offering:
1) 100% Leased Retail Center - 83,770 SF - built 1991 and
renovated 2008-2010
2) 3,594 SF Freestanding Building on .636 acres - The Vitamin
Shoppe - built 2010
3) 5,700 SF Outlot building - Leases signed for 100% of
building with Aspen Dental and Five Guys Burgers - to be
built 2011/2012
4) .72 Acre Land Lease - Chipotle - built 2004
Investment Summary
Price: $15,375,000
Year Two Cap: 8.5%
Terminal Cap Rate: 9.0%
10-Year Unleveraged IRR: 9.25%
10-Year Unlevered Cash on Cash: 8.16%
10-Year Leveraged IRR: 13.85%
10-Year Levered Cash on Cash: 10.19%
Existing First Mortgage (to be assumed)
Principal Balance: $10,500,000
Loan Start: July 2007
Loan I/O Period: 7/07 - 6/12
Amortization Begins: July 2012
Amortization Period: 30 years
Loan Expiration: July 2017
Loan Assumption Fee: None
$20,000 administrative costs
Interest Rate: 6.132%
Investment Highlights• Opportunity to earn 10%+ cash on cash returns
in a core Class A asset with premier market
positioning
• 100% Leased center with secure, long-term rent
roll
• Institutional quality, well-maintained asset, recently
retenanted and renovated
• Irreplaceable market location at entrance to highly
successful enclosed regional mall anchored by
Macy’s, Sears and JCPenney and owned by GGP.
• National credit retailers including Party City, Dollar
Tree, Pier One, The Vitamin Shoppe, The Tile
Shop, Aspen Dental, and Five Guys
• Assumable interest-only financing
For More Information
Cassidy Turley221 East Fourth St., 26th Floor
Cincinnati, OH 45202
T 513.421.4884 | F 513.421.1215
cassidyturley.com
Rebecca L. Wells, CCIMSr. Vice President - Capital Markets
Institutional Services Group
T 317.639.0522
Robert W. Taylor, Jr., CCIMPrincipal, Sr. President - Capital Markets
Institutional Services Group
T 513.763.3030
DEMOGRAPHIC SUMMARY
3 Miles 5 Miles 10 Miles
Population 62,406 128,819 374,274
Estimated HH 25,141 49,573 146,197
Average HH Income $74,931 $78,023 $73,478
24 Hour Traffic Count Mall Rd. KY SR 18 I-75 / 71
22,352 44,052 124,000
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