| The Property |
This property underwent a complete interior and exterior renovation in conjunction with a lease extension in June, 2010. The improvements totaling $510,000 and lease extension highlight CEC's long-term commitment to the location. The property is situated on a 1.6 acre parcel on the north side of Macsway Avenue, two lots (150 yards) west of the intersection of Hamilton Road (Hwy 317) and Macsway Avenue in Columbus, Ohio. Situated within close proximity to Eastland Mall, regional employment centers and local traffic generators, interstate highways (I-70), and other major local area roadways providing ease of access and good local and highway traffic flow. |
Property
Description |
Rentable Area: |
10,360 (sf) |
Land Area: |
69,699 (sf) |
No. of Parking Spaces: |
107 (4 handicapped) |
Frontage: |
147' on Macsway Ave |
Lease
Terms |
Lease: |
CEC Entertainment (NYSE: "CEC") |
Expiration Date: |
10/31/2018 |
Tenant Responsibilities: |
Absolute NNN |
Landlord Responsibilities: |
None |
Percentage Rent: |
N/A |
Real Estate Taxes: |
$16,686 FY 2009 |
Base Rent: |
$91,280 |
Escalations: |
5% in Option period |
| Options: |
1, 5-year Option |
Demographics (2009) |
| |
3 Miles |
5 Miles |
| Population: |
89,453 |
212,691 |
| Households: |
38,936 |
89,781 |
| Avg. H. H. Inc: |
54,508 |
59,414 |
About Columbus, Ohio |
Columbus is the largest city by population in Ohio and 15th largest in the U.S.; It has a diverse economy lead by Educational, health and social services (19.3%) with Retail trade (13.5%); Professional, scientific, management, administrative, and waste management services (10.8%); and FIRE (10.3%) rounding out the major employment sectors. The neighborhood is anchored by the Eastland Mall, a one+ million sq. ft. enclosed regional mall. I-70 is situated less than one mile north and I-270 is about 1.5 miles south.The immediate neighborhood is a predominantly retail and commercial uses. The predominant traffic generator in the neighborhood is Eastland Mall and the surrounding retail/commercial uses. |
About
CEC Entertainment |
As of January 1, 2010, CEC Entertainment, Inc. consisted of 497 corporately owned and operated Chuck E. Cheese’s restaurants and 48 franchise restaurants. The company operates in 48 states and six foreign countries or territories. CEC Entertainment, Inc. considers family restaurant/entertainment to be its sole industry segment.Chuck E. Cheese’s offers a variety of pizza, a salad bar, appetizers, desserts and a feature musical and comic entertainment by life-size, computer controlled robotic characters, family oriented games, rides, and arcade style activities.
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Building & Site Analysis |
The building is a one-story restaurant with a seating area, counter and full kitchen. There are four tall high overhead doors and one drive-in overhead door. The building is fully sprinklered. The property is situated on a 1.6 acre parcel on the north side of Macsway Avenue, two lots (150 yards) west of the intersection of Hamilton Road (Hwy 317) and Macsway Avenue in Columbus, Ohio. Situated within close proximity to Eastland Mall, regional employment centers and local traffic generators, interstate highways (I-70), and other major local area roadways providing ease of access and good local and highway traffic flow. |
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