Fort Wayne, IN
Price: $3,540,000
Cap Rate: 6.00%
Status: AVAILABLE

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Blue West Capital is pleased to exclusively present the sale of a multi-tenant retail property located in Fort Wayne, Indiana. The 11,231 square foot property is leased to e-commerce resistant, and essential tenants including Sherwin-Williams Paint Store (S&P: BBB), B. Antonio’s Pizza, Instant Hearing Solutions, and AT&T. The property is 100% leased and serves as an outlot to Menards and to a Meijer grocery store. The location coupled with the tenant lineup offers a future owner a stable and accretive investment well into the future.

Located just 9 miles northeast of downtown Fort Wayne, Chapel Ridge Shops attracts consumers from the surrounding suburban neighborhoods as well as those that live downtown. Within a five-mile radius, there are over 86,000 residents. The immediate area has an affluent population with average household incomes over $103,000 within a 1-mile radius of the center. The subject property offers excellent accessibility, as it is located off Maysville Road along Meijer Drive. This intersection sees over 30,000 vehicles per day.

  • Anchored by Sherwin-Williams (S&P: BBB), a credit tenant with $18.36 Billion in revenue, and is publicly traded on the NYSE under “SHW”
  • Sherwin-Williams occupies 45% of the GLA and their annual rent accounts for 45% of total rent for the entire center
  • Shadow anchored by Menards and Meijer
  • Complementary tenant line up with food and medical operators
  • Located immediately off I-469, the major interstate that connects all of suburban Fort Wayne
  • Affluent demographics with average household incomes of over $103,000 within a one-mile radius
  • Strong surround demographics with over 86,000 people within a five-mile radius
  • Property has been 100% occupied since inception
  • Population growth in the surrounding area is expected over the next five years
  • Located directly across from major big box retailers such as Walmart, Marshalls, Kohl’s, PetSmart, Michaels, Dollar Tree, Goodwill and others
  • WALT of over 5 years

OFFERING SUMMARY

Price: $3,540,000
Cap Rate: 6.00%

GLA: 11,231 SF
Price/SF:
$315

INVESTMENT CONTACT

CARLY KELLY
Director
Investment Sales
720.828.6290
Carly@BlueWestCapital.com

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2022-07-21T13:23:32-07:00
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