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1079 N National RdColumbus, IN 47201
Market at Clifty Crossing
Asset ClassRetail
Retail SF198,014
Dominant Open-Air Center
overview of deal

Overview

Cushman & Wakefield’s Retail Advisory Group presents Market at Clifty Crossing (the “Property”), a 198,014-square-foot, dominant CORE-PLUS/ VALUE-ADD open-air power center located at the northeast corner of North National Road (US-31) (19,389 VPD) and Taylor Road (13,996 VPD) in Columbus, Indiana. Anchored by a national credit lineup of Hobby Lobby, Best Buy, Ross Dress for Less, Boot Barn, and Petco, the Property commands its trade area with the deepest concentration of destination retail in the submarket. The offering is currently 85% occupied and presents a rare combination of durable, in-place cash flow and substantial embedded upside through mark-to-market rent growth.

 

Most notably, Best Buy occupies 35,032 square feet (18% of GLA) at a co-tenancy rent of just $4.75 per square foot, roughly half of market, representing an immediate lever to nearly double that rent (~$166,402 of potential base rent uplift) by returning Best Buy to a full contractual rate or re-tenanting the box. Across the rent roll, anchor tenants pay a weighted-average $7.43 per square foot against market rents of $8.00–$14.00, giving a new owner a long runway of contractual escalations and mark-to-market opportunity as leases roll. Through in-place growth and belowmarket rents the Property delivers a 4.6% 10-year NOI CAGR on a $1,367,413 Year 1 NOI, and that does not capture additional value available through the activation of the underutilized rear GLA and the separately parceled Chili’s outparcel (2.83 acres), which conveys with the offering and carries spin-off optionality.

 

Market at Clifty Crossing sits within one of the Midwest’s most powerful advanced-manufacturing economies. Columbus is the global headquarters of Cummins Inc., a Fortune 200 company that generated US $33.67 billion in revenue in 2025 and employs roughly 8,000 people in the Columbus area, alongside major employers including Toyota Material Handling, NTN Driveshafts, and Forvia/Faurecia. With over 38% of local employment in manufacturing, Bartholomew County consistently ranks in the top 2% of all U.S. counties for manufacturing employment, and the region carries one of the highest concentrations of engineering talent in the nation, a base of high-income, stable-employment households that drives daily-needs and destination retail demand. The Property benefits from a dense, affluent 5-mile trade area of 52,857 residents and $98,575 average household income, and its regional pull is validated by Placer.ai data showing approximately 1.8 million annual visits, a 39-minute average dwell time, and 18%

year-over-year visit growth. Market at Clifty Crossing offers investors a compelling combination of stable cash flow anchored by proven national retailers and meaningful, controllable value creation through mark-to-market rent growth and outparcel optionality.

Investment Highlights

Square Feet
198,014
Land
20.01 Acres
Year Built
1989
Year Renovated
2004
Weighted Average Lease Term
6.2 Years
% Leased
85%
  • Dominant open-air center
  • Significant below-market rents
  • Outparcel spin-off optionality
  • Powerhouse manufacturing economy
  • Stable cash flow with embedded growth
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deal gallery image
1079 N National RdColumbus, IN 47201

Primary Contact

David MatheisAnalyst

License #: IL Lic No. 475.122515

(312) 470-2347david.matheis@cushwake.com
Zach YarnoffManaging Director(312) 424 8205zach.yarnoff@cushwake.com
Bill FrenchExecutive Director(314) 590 5052bill.french@cushwake.com

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