Polaris Westar Plaza

Investment Overview

Polaris Westar Plaza is a fully occupied retail strip center located in Westerville, Ohio, offering a 100% leased investment opportunity with long-term tenant commitments. Built in 2020, the property features ±24,315 square feet of gross leasable area across two buildings and six suites, with a weighted average lease term of ±5.3 years. The property benefits from a service- and food-based tenant lineup that includes fast-casual restaurants, salons and barbershops, yoga studios, and medical offices, providing an internet-resistant tenant mix. The center is situated in one of Columbus' premier submarkets, surrounded by strong demographics and a daytime population of over 30,000 employees from nearby offices, hotels, hospitals, and schools. The asset features scheduled rent increases throughout the first few years of ownership, as well as built-in increases during option periods for all tenants, and requires minimal near-term capital expenditures due to its new construction status.

Investment Highlights

• Long-term leases with scheduled increases
• Service-& Food-based tenant lineup
• Attractive demographics with strong daytime population & strong surrounding tenant mix
• New construction, end-cap drive-thru, well designed ingress/egress