North Point Plaza

NORTH POINT PLAZA
1041, 1051, 1067 - 1087 N 21ST, NEWARK, OH 43055

FOR SALE | INVESTMENT OPPORTUNITY

CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offering Memorandum contains select information pertaining to the business and affairs of the Property at North Point Plaza, located at 1041, 1051, 1067 - 1087 N
21st, Newark, OH 43055, has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective
purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective
purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers
International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers International from
sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or
completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers
should make their own projections and form their own conclusions without reliance upon the material contained herein
and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum from Colliers International, you agree:
1) The Offering Memorandum and its contents are confidential;
2) You will hold it and treat it in the strictest of confidence; and
3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the
interest of the Seller.

Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and
to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written
agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of North Point Plaza or in the future you discontinue such negotiations, then you agree to purge all
materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the
sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a
prospective purchaser have any other claims against Owner or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders,
owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of
affairs of the Property since the date this Offering Memorandum.

TABLE OF CONTENTS

EXECUTIVE SUMMARY
> Offering Summary
> Market Summary
> Aerial Image
> Terms of Sale & Offering Process

PROPERTY OVERVIEW
> Parcel Map
> Property Description
> Property Photos
> Surrounding Retailers

FINANCIAL OVERVIEW
> Financial Summary
> Rent Roll
> Tenant Summaries

MARKET OVERVIEW
> Demographics
> Newark at a Glance
> Greater Columbus Region Information

Exclusively Listed By:

GRANT CHANEY, CCIM
Brokerage Vice President
DIRECT +1 614 437 4569
EMAIL [email protected]

EXECUTIVE SUMMARY

NORTH POINT PLAZA EXECUTIVE SUMMARY

THE OFFERING:

Colliers International is pleased to present an exceptional opportunity to acquire a 100% fee simple interest in North Point Plaza and two out parcels. The
14,280 SF shopping center is located in Newark, Ohio, a prominent suburb of Columbus and includes a 4,500 SF Monro Muffler and Valvoline ground lease.

INVESTMENT HIGHLIGHTS:

• Kroger Shadow: Directly adjacent to new (2016) Kroger Marketplace
• Net-Leased Parcel: The property includes a Net Leased Monro Muffler and Ground Leased Valvoline
• Tenant Success: Dickey’s BBQ (560+ Nationwide Locations) recently expanded their space to add a sports bar with alcohol sales
• Market Vacancy: The current market vacancy is 1.6% with no new strip centers currently under construction
• Long Term Tenants: 55% of tenants have been at the property for 5 – 25 years
• Street Frontage: 100% unencumbered view with 3 access points for ingress & egress
• Roof: Less than 4 years old with 11+ years of remaining warranty

1040, 1051-1087 N 21ST TENANTS

GREAT NAILS

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NORTH POINT PLAZA EXECUTIVE SUMMARY

MARKET SUMMARY Property Overview

Newark is a city in and the county seat of Licking County, Ohio. Newark is small town America. Address: 1041, 1051, 1067 - 1087 N 21st,
This community is rooted in rural traditions and a strong work ethic. Come to the center of Ohio Newark, OH 43055
and feel like you’re worlds away. Just 25 miles east of Columbus, Newark is the perfect
getaway to discover water parks, historic museums, arboretums, recreational trails, award Total Square Feet 20,410
winning golf courses, factory tours and unique dining and lodging. It lies at the junctions of the
North and South forks of the Licking River and of Raccoon Creek. Total Site Acreage: 2.62

The modern city’s economy is well diversified and is based on agriculture and industry. The Occupancy 100%
Newark campus of Ohio State University opened in 1957, and Central Ohio Technical College
was established in 1971. Nearby are Buckeye Lake State Park, Dawes Arboretum, the Flint Year Built: 1992
Ridge State Memorial and Museum, Dillon State Park, and the Ohio Canal Lock.
Access: 3 access points on N 21st Street
source: https://www.britannica.com/place/Newark-Ohio

PRICE: $3,250,000 | CAP RATE: 8.0%

DEMOGRAPHIC OVERVIEW 3 Mile 5 Mile
1 Mile 72,554
29,276
2019 Population: 10,096 50,675 $70,865

2019 Households: 4,532 21,181
$64,365
2019 Average HH Income: $63,301

FINANCIAL SUMMARY $275,029
Effective Gross Income: $362,409
Operating Expenses: $259,492
Net Operating Income:

TRAFFIC COUNT Vehicles Per Day
North 21st Street 32,801 VPD

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NORTH POINT PLAZA EXECUTIVE SUMMARY

AERIAL IMAGE

NORTH 21ST STREET

P. 7 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

NORTH POINT PLAZA EXECUTIVE SUMMARY

Terms of Sale & Offering Process

All investors willing to make an offer The Owner has authorized Colliers International (Colliers) to exclusively market North Point Plaza for
are invited to participate. sale. The Owner makes no representation or warranties. This is an as is sale.

All letters of intent are to be SALE PROCESS
submitted to: North Point Plaza is being offered to qualified investors according to the schedule below:

GRANT CHANEY, CCIM Price........................................................................... $3,250,000
Brokerage Vice President Offers Due .................................................................. Reviewed as received
[email protected]
+1 614 437 4569

Following review of offers, Owners will negotiate with the prospective purchaser(s), which in the
Owner’s sole judgment, represents the best combination of price, terms and ability to perform. The
Owner reserves the right to reject any offer for any reason.

COOPERATING BROKERS
North Point Plaza is marketed to principals. Colliers will cooperate with other licensed brokers to
ensure the highest sale price is generated for the Owner, provided:
• Colliers accepts the cooperating broker’s written registration of a specific prospect
• The cooperating broker and the party they represent sign a confidentiality agreement
• The cooperating broker agrees to a 2.0% co-op fee.

P. 8 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

PROPERTY OVERVIEW

NORTH POINT PLAZA PROPERTY OVERVIEW

PARCEL MAP

Parcel Number Land SQ.FT. Acres

1 054-269904 114,127 2.62

P. 10 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

NORTH POINT PLAZA PROPERTY OVERVIEW

PROPERTY DESCRIPTION

> LOCATION: 1041, 1051, 1067 - 1087 N 21st, Newark, OH 43055

> AREA: 2.62 Acres

> ZONING: Commercial

> PARCEL: 054-269904-00

> SIGNAGE: Pylon

> ACCESS: Three access points from N 21st Street



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NORTH POINT PLAZA PROPERTY OVERVIEW

PROPERTY PHOTOS

P. 12 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

NORTH POINT PLAZA PROPERTY OVERVIEW

SURROUNDING RETAILERS

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CUYAHOGA FALLS MARKE T CENTER

FINANCIAL OVERVIEW

NORTH POINT PLAZA FINANCIAL OVERVIEW

FINANCIAL SUMMARY

INCOME & EXPENSES PRICING ANALYSIS
Annual Rent
$275,029 Price $3,250,000
Plus Reimbursements $87,380
Gross Scheduled Income Price/Sq. Ft. $163.42
$362,409
Less Operating Expenses $102,917 Down Payment $812,500
Net Operating Income $259,492 Down Payment % 25%

Loan Amount $2,437,500

OPERATING EXPENSES $7,347 Cap Rate 8.0%
$15,870
Insurance Net Operating Income $259,492
Maintenance & Repairs- $25,000 Loan Payment $164,711
Grounds $1,360 Cash Flow $94,781
Maintenance & Repairs - Cash/Cash 11.67%
Buildings $36,205 DSCR 1.58
Professional Fees $6,263
$10,872
Property Taxes

Utilities

Property Management

Total Operating Expenses $102,917 LOAN ASSUMPTIONS

Amortization 25

LTV 75%

Loan Term 5 Years

Rate 5.00%

P. 15 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

NORTH POINT PLAZA FINANCIAL OVERVIEW

RENT ROLL

Suite Tenant Start Date End Date Square % of GLA $/SF Type Monthly Annual Annual
Feet Rent Rent Reimbursements
1067 UPS 9/15/2014 12/31/2023 8.05% $15.00 Gross $-
7/1/2005 6/30/2023 1,600 8.05% $15.00 Net $2,000 $24,000 $8,000
1069 Verizon Wireless* 8/24/2006 9/30/2022 1,600 8.05% $16.00 Net $2,000 $24,000 $8,000
3/15/2019 7/31/2022 1,600 8.05% $15.00 Gross $2,133.33 $25,600 $-
1071 Hertz 6/1/2019 10/31/2021 1,600 8.05% $10.00 Net $2,000 $24,000 $8,000
1,600 $1,333 $16,000
1073 Nail Salon 7/1/2019 7/31/2021 5.42% $15.60 Net $10,404
1,077 $1,400 $16,800
1075 Groovy Glassware 7/15/2018 7/31/2021 23.53% $10.50 Net $30,420
4,680 $4,095 $49,140
1077 On the Other Side 9/30/1992 9/29/2022 8.20% $17.78 Net $4,891
1077-81 (Dickey's Bar) 1,630 $2,416 $28,989
7/1/2007 6/30/2022 22.63% $14.78 Net $13,950
Dickey's BBQ 7/12/2011 7/24/2022 4,500 $13.83 $5,542 $66,500 $83,665
19,887 $22,919 $275,029
1041 Valvoline
(Ground Lease)

1051 Monro Muffler

TOTALS

*Note: Pending lease extension

PROPERTY OVERVIEW

Occupancy SF % GLA REVENUE
Vacancy* 19,887 100% $275,029
- 0% $-
$275,029
Total 19,887 100% $13.83

*Note: Vacancy Revenue calculation based on occupied avg $/SF:

P. 16 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

NORTH POINT PLAZA FINANCIAL OVERVIEW

TENANT SUMMARIES

> UPS

www.ups.com

UPS is a global company with one of the most recognized and admired brands in the world.
They have became the world’s largest package delivery company and a leading global
provider of specialized transportation and logistics services. Every day, they manage the flow
of goods, funds, and information in more than 200 countries and territories worldwide.

> VERIZON WIRELESS

www.verizon.com

With over 150 locations, Verizon is a global leader delivering innovative communications and
technology solutions that improve the way our customers live, work, learn and play. Verizon
Wireless is the second largest wireless telecommunications provider in the United States after
AT&T.

> HERTZ

www.hertz.com

The Hertz Corporation, a subsidiary of Hertz Global Holdings Inc., is an American car rental
company based in Estero, Florida that operates 10,200 corporate and franchisee locations
internationally. As the second-largest US car rental company by sales, locations, and fleet
size, Hertz operates in 150 countries, including North America, Europe, Latin America, Africa,
Asia, Australia, the Caribbean, the Middle East, and New Zealand.

> VALVOLINE

www.valvoline.com

Valvoline Inc. is a leading worldwide marketer and supplier of premium branded lubricants
and automotive services, with sales in more than 140 countries. Established in 1866, the
company’s heritage spans more than 150 years, during which it has developed powerful
brand recognition across multiple product and service channels.

> MONRO MUFFLER/BRAKE & SERVICE

www.monro.com

Monro operates more than 1240 stores, has 98 franchised locations, 8 wholesale locations
and 3 retread facilities in 30 states, serving the Mid-Atlantic and New England regions,
portions of the Great Lakes, Midwest, Southeast, Louisiana and California.

> DICKEY’S BARBECUE PIT

www.dickeys.com

Dickey’s Barbecue Pit is a fast-casual restaurant with 560 locations nationwide including 10
locations in Ohio. They serve beef brisket, pulled pork, pork ribs, Polish sausage, spicy
cheddar sausage, hot link and chicken. The same recipes have been used since the restaurant
was established in 1941.

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MARKET OVERVIEW

NORTH POINT PLAZA MARKET OVERVIEW

DEMOGRAPHICS

POPULATION TOTAL HOUSEHOLDS AVERAGE HOUSEHOLD INCOME

10,096 50,675 72,554 4,532 21,181 29,276 $63,301 $64,365 $70,685
1 Mile 3 Mile 5 Mile 1 Mile 3 Mile 5 Mile 1 Mile 3 Mile 5 Mile

P. 19 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM

NORTH POINT PLAZA EMXEACRUKTEITVEOVSEURMVMIEAWRY

Newark at a Glance

Newark is a city in and the county seat of Licking County, Ohio. Newark is small town America. This community is rooted in rural traditions and a strong work ethic. Come to the
center of Ohio and feel like you’re worlds away. Just 25 miles east of Columbus, Newark is the perfect getaway to discover water parks, historic museums, arboretums,
recreational trails, award winning golf courses, factory tours and unique dining and lodging. It lies at the junctions of the North and South forks of the Licking River and of Raccoon
Creek.

The modern city’s economy is well diversified and is based on agriculture and industry. The Newark campus of
Ohio State University opened in 1957, and Central Ohio Technical College was established in 1971. Nearby are
Buckeye Lake State Park, Dawes Arboretum, the Flint Ridge State Memorial and Museum, Dillon State Park, and
the Ohio Canal Lock.

Major Employers in Newark, OH: Demographics 50,675
51,931
# Employer POPULATION
1 Licking County Memorial Hospital 2019 Population 21,181
2 Victoria Secret/Limited Brands 2024 Projected Population 21,724
3 State Farm Insurance Company
4 Licking County Government HOUSEHOLDS
5 Newark City SD 2019 Households
6 Denison University 2024 Projected Households
7 Anomatic Corporation
8 Owens Corning Corporation $ INCOME $63,301
9 Park National Bank 2019 Avg. HH Income $73,236
10 Boeing Guidance Repair Center 2024 Estimated Avg. HH Income

Licking County Courthouse

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NORTH POINT PLAZA EMXEACRUKTEITVEOVSEURMVMIEAWRY

Greater Columbus Region Information

Columbus, Ohio is the capital of and largest city in the state of Ohio. The city has a diverse economy based on
education, government, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical
research, health care, hospitality, retail and technology. As of 2018, Columbus is home to the headquarters of 15
Fortune 1000 companies; five of which are Fortune 500 companies: Nationwide Mutual Insurance Company,
American Electric Power, L Brands, Big Lots and Cardinal Health.

Centrally located in the heart of Ohio, Columbus is the 14th largest city in the US and 2nd largest city in the
midwest. The current population is 2.1M and is expected to grow by 500,000 by 2050. With 52 colleges and
universities in the area, the region possesses a young, educated workforce that is expanding at a rate substantially
higher than the national average. Columbus is known for retaining this talent, as the city has one of the largest
concentration of millennials in the nation and was ranked the #1 place for college grads by SmartAsset.

The region’s strategic location sets it apart from other growing metros. The Columbus region, comprised of 11
counties, is located within a 10-hour drive of nearly half of the U.S. population and is in a prime location for
international dealings. The transportation networks provided by John Glenn International Airport, Rickenbacker
International Airport and multiple rail terminals fuel these opportunities and grow with the area’s ever-changing
demands. The Columbus Region has the greatest reach to the U.S. and Canadian populations among all major
logistics hubs. Glenn International Airport, Rickenbacker International Airport, numerous rail terminals and
national interstates, Columbus is a certified logistics hub.

“AMONG AMERICA’S Current population is
ECONOMICALLY STRONGEST
METRO AREAS” 2.1M and is expected to
grow by 500,000 by
-BLOOMBERG BUSINESSWEEK
2050.
P. 21 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM
Columbus is the 2nd

largest city in the Midwest

and 14th largest city in

the U.S.

NORTH POINT PLAZA

1069-1081 N 21ST ST NEWARK, OH 43055

FOR SALE | INVESTMENT OPPORTUNITY

Exclusively Listed By:

GRANT CHANEY, CCIM
Brokerage Vice President
DIRECT +1 614 437 4569
EMAIL [email protected]