Polaris Westar Plaza

• Long-Term Leases: Polaris Westar Plaza benefits from long-term leases with a WALT of ±5.3 years. Four tenants have over 4 years of lease term remaining, including two with over 8 years remaining, and all tenants have several renewal options.
• Scheduled Increases: The asset benefits from built-in rent increases throughout the first few years of ownership, as well as scheduled increases during option periods for all tenants.
• Service- & Food-Based Tenant Lineup: The center features an internet-resistant tenant mix focused on food and service-based uses, including fast-casual restaurants, salons and barbershops, yoga studios, medical offices, and more.
• Attractive Demographics: Located in Westerville, one of Columbus’ premier submarkets, the property benefits from a population of 77,199, 30,061 homes, and an average household income of $143,162 within a 3-mile radius. The surrounding office market also contributes an additional ±30,000 daytime employees.
• New Construction | Minimal Capex: Built in 2020, the property requires minimal near-term capital expenditures, providing a passive investment opportunity for both local and out-of-state ownership.
• Strong Daytime Population: Polaris Westar Plaza is surrounded by over 25 different offices, hotels, hospitals, private schools, and other demand drivers, creating a strong daytime population that supports the center’s restaurant and dining tenants.
• End-Cap Drive-Thru: The asset features an end-cap drive-thru occupied by Rebol, the plaza’s newest tenant, providing added convenience and supporting the tenant’s fast-casual operating model.
• Well-Designed Ingress/Egress: Polaris Westar Plaza benefits from multiple points of ingress and egress from Polaris Pkwy, providing convenient access to the property from both directions.
• Strong Surrounding Tenant Mix: Located just a mile from the Polaris Retail Corridor, the property is surrounded by Starbucks, Chick-fil-A, IKEA, Fresh Thyme Market, DICK’s, Macy’s, Target, Lowe’s, Best Buy, Topgolf, Dave’s Hot Chicken, BW3, Chicken Salad Chick, Sheetz, Meijer, Kroger, McDonald’s, Bibibop, Home Depot, Chipotle, and numerous other national retailers and restaurants. The corridor attracts ±40 million visitors a year.