Press Releases
Marcus & Millichap Brokers $2.33 Million Sale of Saltgrass Steak House in Mishawaka, Indiana
July 30, 2026
MISHAWAKA, Ind., July 29, 2026 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 6,490-square-foot Saltgrass Steak House ground lease property in Mishawaka, Indiana, for $2.33 million.
“Mishawaka continues to attract national retailers, with several new developments planned along the Main Street corridor,” said Brennan Clegg, director investments. “Long-term ground leases occupied by established restaurant brands remain highly desirable investments, particularly in growing retail corridors like this one.”
Clegg, Chris Lind, Mark Ruble and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, in association with Julia Evinger, Marcus & Millichap’s Indiana broker of record, represented the seller, an Omaha-based developer, and procured the buyer, a California-based investor.
The property is located at 5126 N. Main St. Built in 2024 on 1.73 acres, the restaurant is occupied by Saltgrass Steak House, a Landry’s-owned steakhouse brand with 96 locations across 14 states. The transaction marked the sale of the final pad within a larger retail development that also includes Raising Cane’s, Mission BBQ and Crumbl Cookie. The buyer plans to hold the property as a long-term investment.
“Mishawaka continues to attract national retailers, with several new developments planned along the Main Street corridor,” said Brennan Clegg, director investments. “Long-term ground leases occupied by established restaurant brands remain highly desirable investments, particularly in growing retail corridors like this one.”
Clegg, Chris Lind, Mark Ruble and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, in association with Julia Evinger, Marcus & Millichap’s Indiana broker of record, represented the seller, an Omaha-based developer, and procured the buyer, a California-based investor.
The property is located at 5126 N. Main St. Built in 2024 on 1.73 acres, the restaurant is occupied by Saltgrass Steak House, a Landry’s-owned steakhouse brand with 96 locations across 14 states. The transaction marked the sale of the final pad within a larger retail development that also includes Raising Cane’s, Mission BBQ and Crumbl Cookie. The buyer plans to hold the property as a long-term investment.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
