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Grocery Store

Ruler Foods | 3+ Years Remain | Indianapolis, IN MSA | Low & Replicable Rent Rate

3500 N Morrison Rd, Muncie, IN 47304

Listing Price: $1,535,714

Cap Rate
7.00%
Tenant Name
Ruler Foods
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
20,888
Lease Type
Double Net
Rent Per Square Feet
$5.15

Investment Overview

The Tenant, Kroger, Co., exercised a contract option in 2021, providing lease term through June 2026 with two, five-year options remaining. This recent extension is a supporting confirmation to geofencing data from Placer.ai, which ranks this location 5th nationally with 231.4 thousand annual customer visits. The Offering is part of Morrison Crossing Shopping Center which includes Ashley Furniture, PetSmart, and various outparcels. Ruler Foods has operated here successfully since 2013, and has completed minor renovations to the store. Ruler Foods is a discount warehouse store grocery chain, owned and operated by Kroger, with 50 locations across Illinois, Indiana, Ohio, Kentucky, Missouri, and Tennessee.

Investment Highlights

  • County Seat Location and Home To Ball State University with 21,600+ Students
  • Corporate Lease with Kroger, the Country's Largest Supermarket Chain
  • Recent Contract Renewal Indicates Tenant's Success at this Location

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Grocery Store

Ruler Foods | 3+ Years Remain | Indianapolis, IN MSA | Low & Replicable Rent Rate

Listing Price: $1,535,714

Cap Rate
7.00%
Tenant Name
Ruler Foods
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
20,888
Lease Type
Double Net
Rent Per Square Feet
$5.15

Investment Highlights

  • County Seat Location and Home To Ball State University with 21,600+ Students
  • Corporate Lease with Kroger, the Country's Largest Supermarket Chain
  • Recent Contract Renewal Indicates Tenant's Success at this Location

Investment Overview

The Tenant, Kroger, Co., exercised a contract option in 2021, providing lease term through June 2026 with two, five-year options remaining. This recent extension is a supporting confirmation to geofencing data from Placer.ai, which ranks this location 5th nationally with 231.4 thousand annual customer visits. The Offering is part of Morrison Crossing Shopping Center which includes Ashley Furniture, PetSmart, and various outparcels. Ruler Foods has operated here successfully since 2013, and has completed minor renovations to the store. Ruler Foods is a discount warehouse store grocery chain, owned and operated by Kroger, with 50 locations across Illinois, Indiana, Ohio, Kentucky, Missouri, and Tennessee.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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