Fresh Thyme Farmers Market | Ypsilanti, MI

Retail

933 High Street Worthington, OH
Price:
$ 12,019,920
Property Size:
28,600 sqft
Cap Rate:
6.75
NOI:
$ 811,344.60
Lot Size:
2.52 acres
Year Built:
2015
Status:
Sale

DOMINANT MIDWESTERN GROCER | ESSENTIAL & RESILIENT RETAIL BUSINESS
Fresh Thyme Farmers Market is a dominant midwestern grocer with 73 locations across 11 states. The company, founded in 2012, is backed by an investment from Meijer Companies, Ltd, a privately-owned and family operated company with 245 stores. Meijer is guaranteeing the Lease at the subject property for the first five (5) years and is one of America’s largest private companies, with more than 80,000 employees and approximately $17.4 billion in sales for the year ending January 31, 2018.

LONG TERM COMMITMENT | BUILT-TO-SUIT | FIXED RENTAL INCREASES | PASSIVE NN LEASE
The property was built-to-suit for Fresh Thyme in 2015 with a fifteen (15) year NN lease with landlord responsibilities limited to roof and structure. With approximately 10.5 years of term remaining, four (4) five
(5) year options to extend and 10% fixed rental increases every five (5) years, the property offers a secure long term income stream and a hedge against inflation ideal for both local and out-of-area investors.

STRONG STORE SALES | 35%+ GROWTH IN SALES SINCE 2017
Fresh Thyme’s sales reached nearly $10M in the past 12 months (as of April 2020), an increase of more than 35% since 2017. The property’s growing success is a testament to its long term viability and growing customer
base within the Worthington submarket.

DOMINANT RETAIL TRADE AREA | 35,000+ VPD
The subject property is strategically positioned in the trade area along N High Street (35,006 VPD) a major North/South arterial road connecting Worthington to Columbus, providing strong visibility and accessibility. The nearby on/off ramp access via Interstate 270 (153,210 VPD) connects the subject property with nearby major employment centers in the trade area such as Worthington Place, Crosswoods, and Worthington Commerce Center.

AFFLUENT SUBMARKET WITHIN THE COLUMBUS MSA | $140,000+ AVERAGE HH INCOMES WITHIN 1 MILE
Fresh Thyme is in the Columbus MSA which is home to 2.4 million people and fifteen (15) Fortune 1000 companies. The regions favorable business climate, strong higher education facilities and zero corporate tax structure continue to foster the MSA’s growth. Within 5 miles of t he subject property, there are 319,085 people, and 136,006 households

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Matt Berres
Executive Managing Director
949.608.2066
Karick Brown
Associate
949.608.2033
Samir Khalil
Director
949.608.2042
Terry Coyne
Vicwe Chairman
216-453-3001

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