Main Content
- Request Info
- Full Offering Memorandum
6820 Pearl Road
Agent(s): Kyle Hartung
- Price $250,000,000
- Cap Rate 5%
- Status For Sale
- Property Type Investment Sales
About This Property
For sale is the 100% fee-simple interest in the Aldi located in Middleburg Heights, Ohio, which is part of the larger Cleveland MSA (2,057,009 people). The brand-new corporate store is fully built and features Aldi’s newest corporate design and prototype. The lease provides the investor with 20 initial years of corporately-guaranteed term in addition to four 5-year options. Base rent increases at a rate of 10% every 5 years starting with year 11 and continuing throughout option periods. The lease is hands-off to the investor with Aldi required to perform all repairs, maintenance and replacements, and is being offered at a building cost of only $128 per square foot. Aldi is directly adjacent to a plethora of new retail development, which includes Chipotle, AT&T, Smoothie King, Citizen’s Bank, Urgent Care, Starbucks, McAlister’s Deli, and more. The property is situated near the corner of Pearl Road and West 130th Street, offering over 40,000 vehicles per day. Additionally, directly across the street is a power center which includes Giant Eagle, Marc’s, BJ’s Wholesale Club, Petco, Marshall’s, Five Below, Joann and more.