Overview
Columbus Shopping Center For Sale
Eastland Plaza is an 85,084 square-foot shopping center in Columbus, Ohio, comprised of three separate strip centers: Eastland East, Eastland West, and Eastland Magnet. Constructed in 1979, 1974, and 1978, respectively, the shopping center has undergone major upgrades and renovations. The property is currently 90.18 percent occupied by a mix of tenants, including medical, government, food, dollar/convenience, cellular, nail salon, hair salon, daycare, karate, and financial services. Major tenants include Nationwide Children’s Eastland Primary Care, AT&T, Papa John’s, United States Postal Service, Dollar General, United State Airforce, Sterling Cleaners, Dulce Vida, H&R Block, Lil Rascals Daycare, Five Star Nails, Proman Staffing, Maya Hair Braiding, and D&D Studio Salons. There are two vacant units ranging from 3,615 to 4,852 square feet. 47 percent of the Gross Leasable Area (GLA) is leased to national or government tenants, with the remaining tenant base occupied by local and regional brands. Inline space averages $11.79 per square foot. The majority of tenants are encumbered by NNN Leases. Eastland Plaza is located along South Hamilton Rd, which sees over 23,922 vehicles per day, and is less than a mile south of I-70, which sees over 103,000 vehicles per day. The property is situated between two signalized intersections and has three points of ingress/egress. Adjacent to the property is the former Eastland Mall, which is scheduled to be demolished in 2025 with plans for a mixed-use development including multi-family/residential, civic use, senior housing, commercial uses, and public greenspace. The immediate area includes McDonald’s, Tim Hortons, Chase Bank, Popeye’s, T-Mobile, DaVita, Taco Bell, Saraga Grocery, Giant Eagle, Raising Cane’s, Starbucks, Chipotle, and Aldi. The surrounding area has a population of 9,592 people within one-mile, 98,925 within three-miles and 236,919 within five-miles. Average household income spans $48,541 - $69,309 between one-three miles.
