Auto Parts
Caliber Collision | Absolute Net | Brand New Construction | Home to Notre Dame University
5521 W Cleveland Rd, South Bend, IN 46628
Listing Price: $4,990,800
Investment Overview
This opportunity provides a qualified buyer with a long term passive investment, featuring brand new built-to-suit construction. Caliber Collision is expecting a Q1 2024 lease start, offering 15 years on a true NNN lease, with zero landlord responsibilities. The lease also calls for two 5-year renewal options and 10% rent bumps every 5-years, to hedge against inflation.
Known as the home of the University of Notre Dame, the South Bend metro is situated in northern Indiana and southern Michigan, roughly 100 miles east of Chicago and 200 miles southwest of Detroit. It consists of St. Joseph and Cass counties. The city of South Bend is the most populous city in the metro, with 101,800 residents. Key drivers of the local economy include food and agriculture, advanced manufacturing, logistics and distribution, as well as technology and life science segments.
Caliber Collision | Absolute Net | Brand New Construction | Home to Notre Dame University
Investment Highlights
- Brand new Built-to-Suit construction
- Brand new 15 year Absolute Net lease, scheduled to commence Q1 2024
- Regular 10% rent increases every 5 years hedge against inflation
- Strong corporate guaranty from the largest auto body repair company in the U.S. with over 1600 locations, the parent company, Wand Newco 3, Inc, recently upgraded to a Moody's rating of B2
- Recession resistant business, with almost 300 million vehicles on the road, and distracted driving on the rise, the need for collision repair centers remains growing
- South Bend has a population of over 100,000 residents and the closest existing Caliber is over 10 miles away in Mishawaka
- Nearby Notre Dame University boasts a large student body and is one the area's largest employers, just 5 miles from the subject site
- Situated within a bustling industrial neighborhood, tons of daytime traffic, and just a few minutes from the South Bend International Airport, the state's second largest for passenger and cargo traffic
Exclusively Listed By
Broker of Record
Financing By
Auto Parts
Caliber Collision | Absolute Net | Brand New Construction | Home to Notre Dame University
Listing Price: $4,990,800
Investment Highlights
- Brand new Built-to-Suit construction
- Brand new 15 year Absolute Net lease, scheduled to commence Q1 2024
- Regular 10% rent increases every 5 years hedge against inflation
- Strong corporate guaranty from the largest auto body repair company in the U.S. with over 1600 locations, the parent company, Wand Newco 3, Inc, recently upgraded to a Moody's rating of B2
- Recession resistant business, with almost 300 million vehicles on the road, and distracted driving on the rise, the need for collision repair centers remains growing
- South Bend has a population of over 100,000 residents and the closest existing Caliber is over 10 miles away in Mishawaka
- Nearby Notre Dame University boasts a large student body and is one the area's largest employers, just 5 miles from the subject site
- Situated within a bustling industrial neighborhood, tons of daytime traffic, and just a few minutes from the South Bend International Airport, the state's second largest for passenger and cargo traffic
Investment Overview
This opportunity provides a qualified buyer with a long term passive investment, featuring brand new built-to-suit construction. Caliber Collision is expecting a Q1 2024 lease start, offering 15 years on a true NNN lease, with zero landlord responsibilities. The lease also calls for two 5-year renewal options and 10% rent bumps every 5-years, to hedge against inflation. Known as the home of the University of Notre Dame, the South Bend metro is situated in northern Indiana and southern Michigan, roughly 100 miles east of Chicago and 200 miles southwest of Detroit. It consists of St. Joseph and Cass counties. The city of South Bend is the most populous city in the metro, with 101,800 residents. Key drivers of the local economy include food and agriculture, advanced manufacturing, logistics and distribution, as well as technology and life science segments.
Exclusively Listed By
Broker of Record
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Josh Caruana
First Vice President/District Manager
Financing By
