March 26, 2024 – Michael Mintz, Steve Schiavello, and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Shoppes at Niles in Niles, Ohio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $4,404,000.
Shoppes at Niles is located at 5700 Youngstown Warren Road in Niles, Ohio. The Shoppes at Niles is an 11,546 square foot retail plaza on a 1.35-acre corner parcel that is 100% leased to a complimentary mix of four nationally recognized tenants. The center is leased to Verizon Wireless, Great Clips, CheckSmart, and Aspen Dental, all of which have corporate leases except for Great Clips which is operated by a franchisee. Each of the tenants have double net leases making it an attractive investment for the passive investor and protecting the in-place cash flow against rising costs of service and labor. The Shoppes at Niles are positioned at the signalized intersection of Gypsy Lane and Youngstown Warren Road (US Route 422), the area’s primary commercial and commuter corridor. The Property has outstanding visibility, frontage and access and is located across the street from the Eastwood Mall Complex, a 1.6 million square foot indoor mall with more than 200 shops and restaurants and countless big-box retailers lining the periphery of the primary mall facility. The Shoppes at Niles benefit from its position in the heart of the Warren, Niles and Youngstown commercial corridor with countless national retailers driving traffic to the area and densely populated residential neighborhoods providing a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the 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.