NEW YORK CITY-Real estate investment banking firm Savills LLC, in affiliation with Mid-America Real Estate Group, has been appointed exclusive advisor for the sale of Newport Pavilion, a new 471,000-square-foot, Class-A shopping center in the greater Cincinnati area on behalf of Anchor Investment Partners, a regional investment partnership.
Newport Pavilion is an open-air center, anchored by major national retailers including a Kroger Marketplace, Target Supercenter, Dick’s Sporting Goods, TJ Maxx, Ulta, Petsmart, and Michael’s. The center includes popular restaurants such as Panera Bread, Chick-Fil-A, Chipotle, Buffalo Wild Wings, and IHOP. The shop tenants are a highly complementary roster of national retailers. The property is presently 95 percent leased and will soon be 99 percent leased upon completion. All major tenants have new, long-term leases offering investors a highly predictable cash flow.
The newly constructed center is located one mile from the Cincinnati CBD and has nearly 3,000 feet of frontage along I-471, providing exceptional visibility and access to an impressive traffic count of 125,000 cars per day. There are 250,000 residents with a five-mile radius and 250,000 employees within a 10 minute drive of the property.
About Savills LLC
Savills LLC is a real estate investment banking firm offering debt and equity placement, note sales, investment sales, cross-border investment, advisory and asset management services across all property types. Savills’ North American headquarters is in New York, with offices in suburban Washington DC and Orange County, California.
The professionals of Savills LLC have executed more than $50 billion in real estate transactions, spanning the full range of property types, including multifamily, office, medical office, retail, industrial and hospitality.
Listed on the London Stock Exchange, Savills plc is one of the world's leading real estate advisors, with more than 200 offices and approximately 26,000 professionals in principal cities throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.