» Longterm Leases From The Majority Of The Tenants
» 166,749 sq. ft. Community Shopping Center anchored by Michael’s, Party City, Pier 1 Imports, and Collins Road Movie Theater.
» Collins Road Square serves the Cedar Rapids market — the second largest market in Iowa, with a daytime population of nearly 300,000 and Average Household Incomes of nearly $80,000.
»The Property sits in the northeastern part of the market, in the heart of the upper-middle income suburbs in Cedar Rapids and Marion. Cedar Rapids is home to aerospace company Rockwell Collins, insurance giant Transamerica/AE GON, as well as large facilities for Quaker Oats, Cargill, and General Mills.
» Michael’s, an original tenant just renewed for 5 years. Party City just signed a new 10-year lease through 1/31/2029.
» Staggered lease expiration schedule with only 3.25% (5,436 S.F.) of the square footage rolling before 2020.
» Located in Cedar Rapids main retail corridor across from Lindale Mall, a highly successful 731,000 S.F. Regional Mall.
» High Barriers to Entry, Priced well-below Replacement Cost.
» Recent capital improvements including a brand-new façade completed in 2015
