Retail i Ohio

Boulder Group sells Kmart in Cincinnati suburb

Boulder Group sells Kmart in Cincinnati suburb,ph01

The Boulder Group has completed the sale of a single tenant net-leased Kmart property at 10560 Harrison Ave. in Harrison, Ohio for $3.05 million.

The 86,714-square-foot Kmart property is located along Interstate-74. The average annual household income within a five-mile radius of the property is about $80,000 a year.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Northeast-based real estate investment firm. The purchaser was a Midwest-based private investor.

Kmart has a long operating history at this property since 1981, and recently exercised a renewal option. There are four years remaining on the recently extended Kmart lease, which expires Aug. 31. The lease features a low rent per square foot ($2.99) and sold below replacement cost ($39.97 per square foot).