The Property’s tenant roster features three national, credit tenants in T.J. Maxx, Michael’s and Dollar Tree, plus a shadow anchor in Lowe’s. These three tenants total 42% of the Property’s GLA and have a weighted average remaining lease term of 7.3 years. The center as a whole has a weighted average lease term of over 5 years. With a premier shadow anchor in Lowe’s, recent leasing momentum through executions with Michael’s, Dollar Tree, and long term credit anchor tenants, and a tenant roster featuring three credit anchor tenants with over 7 years of remaining lease term, The Commons provides an ideal blend of long term stable cash flow and substantial income growth potential. The Property also offers upside opportunity through +28,000 square feet of in-line vacancy and a vacant box with a probable backfill tenant, translating to a CAGR of +8% and attractive cash yields.
Jones Lang LaSalle (“JLL”) is pleased to exclusively offer The Commons (the “Property”), a 203,309 square foot retail center located in DuBois, Pennsylvania.