RETREAT AT WINDEMERE...2 cushmanwakefield.com THE RETREAT AT WINDEMERE 3 OFFERING TERMS Property is...
6
210 RETREAT LANE | WESTERVILLE, OH | Muiltifamily Property for Sale in Westerville RETREAT AT WINDEMERE
Transcript of RETREAT AT WINDEMERE...2 cushmanwakefield.com THE RETREAT AT WINDEMERE 3 OFFERING TERMS Property is...
210 RETREAT LANE | WESTERVILLE, OH | Muiltifamily Property for Sale in Westerville
RETREAT AT WINDEMERE
cushmanwakefield.com2 THE RETREAT AT WINDEMERE 3
OFFERING TERMS
Property is offered on an all-cash basis.
OFFERING PROCESS Send offers via email to:
ZANE FRY
MATT MURTHA
Offers should be in the form of a Letter of Intent (LOI) and at minimum include: Price, Earnest Money, Due Diligence
Time Period, and Closing Period
Investment Summary 4
Property Description 8
Location Overview 26
Financial Analysis 30
TABLE OF CONTENTSCONTACT US
OHIO BROKERAGE
ZANE FRY DIRECTOR +1 614 827 1723
MATT MURTHA DIRECTOR +1 614 827 1710
325 JOHN H MCCONNELL BLVD SUITE 450 COLUMBUS, OH 43215 PHONE +1 614 241 4700 cushmanwakefield.com
THE RETREAT AT WINDEMERE 5
52 UNITS
INVESTMENT OFFERING
The Cushman & Wakefield Investment Team is pleased
to present the exclusive listing of the 52 unit Retreat at
Windemere. Built in 1995, The Retreat at Windemere
offers an outstanding opportunity to invest in a recently
built, Class ‘A’ asset in the thriving Westerville submarket.
WESTERVILLEWORTHINGTON
EASTON
NEW ALBANY
POLARIS
Westerville, OH210 RETREAT LANE, 43082
985 AVG UNIT SF
1995 YEAR BUILT
51,200 RENTABLE SF
98% OCCUPANCY
4.31 ACRES
$1.17 AVG ASK RENT/SF
$1,234 AVG ASK RENT/
UNIT
Investment Highlights
1
23
PREMIERE PRODUCTConstructed in 1995, the Retreat at Windemere benefits from superb market position with a desirable unit mix, contemporary amenity offerings and high-quality unit interior finishes. With year after year 100% occupancy, the asset presents an opportunity for investors to finish the process of raising rents to reflect the market while enjoying full occupancy.
UNIQUE LOCATIONWith less than 3 miles to I-270 or I-71, the location allows for easy access to the metro area. Its location between the Polaris office market with employers like Chase Bank and DHL, and the New Albany/Easton office market with employers ranging from L Brands to Abercrombie and Huntington Bank, The Retreat lies in the center of economic growth for the Columbus Metro Area.
ENTERTAINMENT GATEWAYLocated a short drive from the newly expanded Easton Shopping Center, Polaris Fashion Place, and Downtown Westerville, the location benefits from the best walking, shopping and entertainment hot spots. The continued growth of Polaris Parkway just to the north of The Retreat at Windemere bodes well for continued demand. With the addition of Ikea, Top Golf, and the Pointe at Polaris in just the last few years, demand for residences in the area is strong.
4
56
THRIVING COLUMBUSColumbus is one of the fastest and most sought-after markets in the midwest with impressive job growth, surging apartment demand and increasing investor appetite.
DEBT FREE INVESTMENTThe buyer will purchase the asset free and clear of any debt allowing an investor to take advantage of today’s debt market for permanent financing.
UPSIDE POTENTIAL THROUGH RENT GROWTHWith a large percentage of long-term tenants, current ownership has not aggressively raised rates as market rental rates have climbed. These month-to-month tenants provide investors immediate upside potential as new leases are worked out.
Executive Summary
cushmanwakefield.com6 THE RETREAT AT WINDEMERE 7
Close Proximity to Retailers
RETREAT AT WINDEMERE
Broker NameExecutive Managing Director+1 234 567 [email protected]
Broker NameExecutive Managing Director+1 234 567 [email protected]
Broker NameExecutive Managing Director+1 234 567 [email protected]
Broker NameExecutive Managing Director+1 234 567 [email protected]
325 John H McConnell BlvdSuite 450Columbus, OH 43215cushmanwakefield.com
Zane FryDirector+1 614 827 [email protected]
Matt MurthaDirector+1 614 827 [email protected]
Executive Summary
cushmanwakefield.com8 THE RETREAT AT WINDEMERE 9
PROPERTY SUMMARY COMMUNITY AMENITIES
• Club House
• Swimming Pool
• Sundeck with Outdoor Seating
• Onsite Gym
• Private Entrance
• Wired for Alarm Service
• Westerville Schools
• Washer & Dryer in Each Unit
• Covered Parking Available
• Pet Free
• Next door to Olde Town Park
• Located on the Westerville Bicycle/Walking/Running Path
• Landscaped Green Space
Number of Units 52 Units
Year Built 1995
Stories 2 Stories
Net Rentable Area 51,200 SF
Average Unit Size 985 SF
SITEAddress 210 Retreat Lane, Westerville, OH 43082
County Delaware
Size/Density 4.3 Acres
Location
The Retreat at Windemere is located along County Line Road just under 3 miles from both I-270 and I-71. I-270 is the Columbus Beltway and I-71 provides easy ac-cess to downtown Columbus as well as Cincinnati and Cleveland. Its central location between the Polaris, New Albany and Easton office markets make it an attractive location for tens of thousands of employees.
ParkingGarage: 12 SpacesCovered: $66-$90/spaceOutside Lot: 92 spaces
UTILITIES
SERVICE/UTILITY SOURCE/COMPANY PAID BYElectric/Cooking City of Westerville Resident
Water/Sewer City of Westerville Resident
Trash Removal Capitol Waste Landlord
Cable/Internet & Phone Spectrum or AT&T Resident
Gas Columbia Gas Resident
UNIT NAME UNIT TYPE SIZE SQ FT MARKET RENT
Cloister 1 BR / 1 BA 700 $955
Plaza 1 BR / 1 BA 800 $1,055
Summit 2 BR / 2 BA 1,000 $1,220
Imperial 2 BR / 2 BA 1,150 $1,360
Town & Country 2 BR / 2 BA 1,250 $1,480
UNIT BREAKDOWN
**Two units are on one meter, but each of these units pays $30/month in water*Water usage is separately metered
