EastGate Mall

Description

Newmark has been exclusively retained to market to qualified investors the opportunity to acquire EastGate Mall (the “Mall” or “Property”), a super-regional shopping mall located in Cincinnati, Ohio. The Property consists of approximately 1,106,598 square feet (431,034 SF Owned) of gross leasable area, situated on 52.96 acres in Southwestern Ohio. This
offering represents a unique opportunity to acquire a well-located superregional mall with numerous avenues of value enhancement, through a greater mixed-use redevelopment and repurposing of the current vacancies, in addition to maintaining the current in-place mall structure.

EastGate Mall serves a trade area population north of 378,575 residents within a 10-mile radius. The Mall benefits from it’s location within the Cincinnati, MSA which continues to experience growing household incomes, population growth and low costs of living and doing business. As the Cincinnati metro continues to undergo significant development and densification, this paves the way for potential repositioning opportunities at EastGate Mall. EastGate Mall offers a new owner with the opportunity to maintain in-place cash flow while creating additional value through the lease up of the current vacancies while pursuing a greater redevelopment plan. 

EastGate Mall is an enclosed super-regional mall located Cincinnati, Ohio. The Property is strategically located off State Route32 (30,000 VPD) and Interstate 275 (25,000 VPD), surrounded by a number of name brand national and regional retailers, restaurants, servicers and hotels, all of which generate a steady stream of traffic to the immediate trade area. The Property’s anchor tenants include Dillard’s Clearance Center (Unowned, 194,022 SF), JCPenney (Unowned, 150,785 SF), Kohl’s (Owned, 94,900 SF) and a vacant former Sears (Unowned, 140,896 SF) that was purchased by Kroger with a plan to build a new Kroger Marketplace store.

The anchor tenants are complemented by a diverse line-up of major and inline national retailers highlighted by American Eagle, Bath & body Works/White Barn, Rue21 and Shoe Dept. Encore. The Property includes six owned outparcel pads and one ground leased pad, occupied by Fairfield Inn & Suites (G.L.), Firestone, KeyBank, O’Charley’s and PNC Bank, in addition to two vacant pads.