Shopping Neighborhood
Meadowbrook Shopping Center
918 Lincoln Hwy W, New Haven, IN 46774
Listing Price: $3,735,000
Investment Overview
92 Percent Occupied, 65,368 Square Foot Big Lots-Anchored Community Shopping Center in Fort Wayne, Indiana. Six of Seven Tenants are National Retailers with Strong Tenancy Tenure (In-Place Since 2014 or Longer). Upside via Lease-Up of One Small-Shop Vacancy (4 Percent of GLA) with Anticipated $12 per Square Foot Triple-Net Rent. Additional Upside via Lease-Up of Potential 2,400 Square Foot Rear/Storage Space (4 Percent of GLA). Potential Parcelization Opportunity – Papa John’s, Great Clips and AT&T Located in Separate Three Tenant Strip. Located along Indiana Route 930 – Prominent East- West Arterial with 23,600 Vehicles per Day; Highly Visible Pylon Signage at Property Entrance. Situated Directly Between I-469 Exit Ramps (2.8-Miles East) and Major Coliseum Blvd Intersection (2.3-Miles West).
Meadowbrook Shopping Center
Investment Highlights
- 92 Percent Occupied, 65,368 Square Foot Big Lots-Anchored Community Shopping Center in Fort Wayne, Indiana
- Big Lots (46 Percent of GLA) - In-Place Since 1992 with History of Renewals and Current Term thru Jan 2029; Cheap $3.75 per Square Foot Triple-Net Rent
- Big Lots Reports Strong Sales and Healthy 6.7 Percent Occupancy Cost Ratio
- Offered Free and Clear of Debt Allowing Prospective Purchaser to Secure New Financing According to Their Investment Strategy
- National Tenants Comprise 84 Percent of Occupied GLA & Contribute 89 Percent of Effective Gross Income
- Mostly Triple-Net Leases with 76.4 Percent Reimbursement of Landlord Operating Expenses on 92 Percent Physical Occupancy
- Upside via Lease-Up of One Small-Shop Vacancy (4 Percent of GLA) with Anticipated $12 per Square Foot Triple-Net Rent
- Potential Parcelization Opportunity – Papa John's, Great Clips & AT&T Located in Separate Three-Tenant Strip
Listing Price: $3,735,000
Investment Highlights
- 92 Percent Occupied, 65,368 Square Foot Big Lots-Anchored Community Shopping Center in Fort Wayne, Indiana
- Big Lots (46 Percent of GLA) - In-Place Since 1992 with History of Renewals and Current Term thru Jan 2029; Cheap $3.75 per Square Foot Triple-Net Rent
- Big Lots Reports Strong Sales and Healthy 6.7 Percent Occupancy Cost Ratio
- Offered Free and Clear of Debt Allowing Prospective Purchaser to Secure New Financing According to Their Investment Strategy
- National Tenants Comprise 84 Percent of Occupied GLA & Contribute 89 Percent of Effective Gross Income
- Mostly Triple-Net Leases with 76.4 Percent Reimbursement of Landlord Operating Expenses on 92 Percent Physical Occupancy
- Upside via Lease-Up of One Small-Shop Vacancy (4 Percent of GLA) with Anticipated $12 per Square Foot Triple-Net Rent
- Potential Parcelization Opportunity – Papa John's, Great Clips & AT&T Located in Separate Three-Tenant Strip
Investment Overview
92 Percent Occupied, 65,368 Square Foot Big Lots-Anchored Community Shopping Center in Fort Wayne, Indiana. Six of Seven Tenants are National Retailers with Strong Tenancy Tenure (In-Place Since 2014 or Longer). Upside via Lease-Up of One Small-Shop Vacancy (4 Percent of GLA) with Anticipated $12 per Square Foot Triple-Net Rent. Additional Upside via Lease-Up of Potential 2,400 Square Foot Rear/Storage Space (4 Percent of GLA). Potential Parcelization Opportunity – Papa John’s, Great Clips and AT&T Located in Separate Three Tenant Strip. Located along Indiana Route 930 – Prominent East- West Arterial with 23,600 Vehicles per Day; Highly Visible Pylon Signage at Property Entrance. Situated Directly Between I-469 Exit Ramps (2.8-Miles East) and Major Coliseum Blvd Intersection (2.3-Miles West).
