September 11, 2023 – Matt Nadler, Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of the Sleep Number Plaza in Youngstown, Ohio. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $4,600,000
The Sleep Number Plaza is located at 1090 Boardman Poland Road in Youngstown, Ohio. The build to suit, two-tenant plaza is improved with Sleep Number and McAlister’s Deli and contains 6,579 square feet on a 0.84-acre corner parcel. The Property was completed in 2023, Sleep Number has 9+ years remaining on their lease with two (2), 5-Year renewal options. McAlister’s Deli has 9+ years remaining on their lease with three (3), 5-year renewal options. Both leases call for attractive 10% rent increases every five years throughout the primary lease and at the start of each renewal option providing a fixed increase in income and an attractive hedge against inflation. The Property is well located at the signalized intersection of Boardman Poland Road (US Route 224) and South Avenue, two of the area’s primary commercial corridors. The Property benefits from outstanding visibility and frontage and sits in the center of a dominant trade area centered around the junction of Boardman Poland Road (US Route 224) and Interstate 680, with big-box anchored shopping centers surrounding the Property and numerous businesses, national retailers and restaurants, and proximity to Interstate 680 drawing significant traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.