Shoppes at Fair & Ety

Value-Add Opportunity: The Shoppes at Fair & Ety benefit from being able to add value within the first year of ownership through several different avenues:
- 12 of the 29 tenants are below market rent (Market rent is $12-$15 PSF for 1,000- 3,000 SF spaces).
- Transition from Gross Leases to NNN: All but 2 tenants in the center pay no reimbursements whatsoever. Being able to transition most, if not all tenants to NNN leases would give the potential of raising the NOI by roughly $140,000.
- Spin Off Potential: The Shoppes at Fair & Ety consists of 6 different retail buildings split across 2 parcels. This provides the opportunity to sell off individual buildings from the portfolio, lowering the basis while still maintaining strong passive income from the remaining buildings.

Central Ohio Location: Just 30 minutes from Columbus, OH – Lancaster is positioned to be a strong suburb to one of the fastest growing markets in the entire country. Columbus, OH has seen recent growth from several major corporations, notably the tech sector. Companies who have recently moved operations to Columbus include Intel, Google, Amazon, Microsoft, and Meta, just to name a few.

Service-Based Tenants: The Shoppes at Fair & Ety have been leased thoughtfully in order to protect against the rising competition of internet retailers. Throughout the center, you will find a tenant mix of the following: Restaurants, Candy Stores, Learning Centers, Beauty Salons, Medical Offices, Music Studios, Ice Cream Parlors, Financial Services, Building Equipment Distributors, Office Space, Driving School, & more.

Growing Market and Rising Population: Lancaster, OH has seen population and median household income growth year over year for the past few decades. The population of Lancaster has been growing steadily, roughly 1% yearly for the past 20 years. Similarly, the median household income has grown roughly 5% YoY.

Surrounding Market: The center is strategically located next to over 3,000 homes within a 1 Mile radius of the property, as opposed to competing for business within a dense retail corridor. This allows the center to have a significant draw of local customers, limiting competition with nearby retailers.

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