Catylist ID:
#30851444
| Catylist Listing ID: | 30851444 |
| Property Subtypes: | Net Leased, Strip Center |
| Building Size (RSF): | 43,368 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 8.86 Acres |
| Sale Price: | $31,288,420 |
| Unit Price: | $721.46 PSF |
| Property Use Type: | Net Leased Investment (NNN) |
| Building Name: | Cedar Creek Crossing |
| Sale Terms: | Undisclosed |
| Cap Rate: | Undisclosed |
| Last Updated: | 7/1/2024 |
Overview / Comments
|
Qualified investors are extended the opportunity to acquire the recently completed premier retail development, Cedar Creek Crossings, located at the core of the dominant Fern Creek trade area in Louisville, Kentucky. In 2021, Louisville, Kentucky based Hogan Real Estate broke ground on this transformational development, a 100% pre-leased, neighborhood retail destination serving the thriving south central submarket of Louisville. With a total GLA of 43,368 square feet throughout six different buildings, the Property represents a diverse collection of exceptionally high-quality retail offerings including QSR, apparel, specialty service, and dining options. The demographics surrounding this premium development are among the strongest in the MSA, a densely populated and continuously growing suburban Louisville neighborhood with excellent housing inventory, acclaimed public schools, and a healthy retail trade area that provides goods and services for the 60,000 residents that live within a 3-mile radius of the site with an average household income in excess of $100,000. Strong demographics and growth have long contributed to the submarket’s vitality and some of the highest retail sales volumes in the MSA. With a weighted average lease term of 10 years and contractual base rental escalations for 100% of the tenants, Cedar Creek Crossing offers a secure income stream backed by a diverse mix of national tenants serving the demands of a highly-affluent, underserved trade area. The offering includes 4 outlots and 2 multi-tenant retail centers on 8.86 acres. McDonald’s, Starbucks, Buff City Soap, Chipotle, Sleep Number, and Heartland Dental are located along the frontage lots along with an additional 24,681 square feet of premier inline retail space that was 100% leased at the time of delivery. Inline retailers include First Watch, HotWorx, Paint Nail Bar, Next Level Sports Nutrition, European Wax, Crumble, Tropical Smoothie Café, Park Community Credit Union, Chicken Salad Chick, Fleet Feet, and Lens Crafters. |
Attachments & Media
Current Tenants
| Tenant Business Name | McDonald's |
| Is Renting? | Yes |
| SF of Space Occupied | 4,600 SF |
| Tenant Business Name | Starbucks |
| Is Renting? | Yes |
| SF of Space Occupied | 2,000 SF |
| Tenant Business Name | Buff City Soap |
| Is Renting? | Yes |
| SF of Space Occupied | 3,240 SF |
| Tenant Business Name | Sleep Number |
| Is Renting? | Yes |
| SF of Space Occupied | 3,015 SF |
| Tenant Business Name | Chipotle |
| Is Renting? | Yes |
| SF of Space Occupied | 2,332 SF |
| Tenant Business Name | Heartland Dental |
| Is Renting? | Yes |
| SF of Space Occupied | 3,500 SF |
| Tenant Business Name | Tract 6 Tenants |
| Is Renting? | Yes |
| SF of Space Occupied | 16,000 SF |
| Tenant Notes | Tenants Include: First Watch, Hotworx, Paint Nail Bar, Next Level Sports Nutrition, European Wax Center, Crumbl Cookies, Tropical Smoothie Café, Park Community Credit Union |
| Tenant Business Name | Tract 5 Tenants |
| Tenant Notes | Tenants Include: Chicken Salad Chick, Fleet Feet, LensCrafters |
Additional Details
| Nearest MSA: | Louisville/Jefferson County |
| County: | Jefferson |
| Taxing Authority: | Jefferson County |
| Tax ID/APN: | 064700320000 |
| Zoning: | C-1 - Commercial District |
| Retail Clientele: | General, Family, Business, Traveler |
| Property Located Between: | Bardstown Rd and I-265 (Gene Snyder Fwy) |
| Largest Nearby Street: | Bardstown Road |
| Feet of Frontage: | 720 |
| Traffic/Vehicle Count: | 50,000 |
| Highway Access: | I-265 (Gene Snyder Fwy) |
| Total Number of Buildings: | 6 |
| Property Condition: | Excellent |
| Year Built: | 2023 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 9,278 | 54,167 | 152,126 |
| Median Age: | 39.26 | 38.02 | 37.98 |
| Households: | 3,962 | 21,362 | 60,280 |
| © Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions. |
