470-550 W Aurora Rd
Sagamore Hills, OH 44067

The Dumes Falk Group of Marcus & Millichap is pleased to bring to market Sagamore Square, a 93,004-square foot grocery anchored shopping center in Sagamore Hills, Ohio. Sagamore Square is currently 98 percent occupied, anchored by Marc’s grocery store, a Cleveland-based discount grocery store with over 60 locations throughout northeast and central Ohio. Sagamore Square has strong historical occupancy and has shown its viability in the market by signing eight new tenants over the last 18 months. Many of these newly added tenants invested in their own interior build outs and subsequently pay reduced rents. Thus, a prospective buyer will benefit from significant rent bumps and rooted tenants who are well invested into the property. Marc’s occupies 55 percent of the gross leasable area and has nearly five years remaining on its triple-net lease, with several five-year options to renew. There is little rollover risk in the near future with 95 percent of the occupied space is leased through 2020. The remainder of the center is occupied by a mixture of 15 local and national tenants including resale stores such as Plato’s Closet, Once Upon a Child, Subway, Farmers Insurance, hair and nail salon, multiple restaurant tenants and a variety of other service oriented tenants. The city of Sagamore Hills is an affluent residential suburb located directly between Cleveland and Akron. Sagamore Square is situated at a signalized intersection on approximately 17 acres with excellent visibility, great signage, multiple points of ingress and egress and a dedicated turn lane on the newly widened State Route 82. The population has increased by nearly seven percent since 2000 with more than 61,000 residents and average household incomes exceeding $97,000 within five-miles. There is over 74,000 employees in the same radius. This offering provides an incoming investor the ability to acquire a stabilized grocery anchored shopping center within an affluent market. Sagamore Square is an integral part of the community and should continue to serve as an invaluable shopping destination for many years to come.