Sold

Chapel Ridge Shops

5409-5417 & 5421 Meijer Drive | Fort Wayne, IN 46835

Price

$3,340,000

Cap Rate: 6.00%

Lead Broker

Carly Gallagher Kelly

720.828.6290 | Carly@BlueWestCapital.com

100% leased to e-commerce resistant and essential tenants

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.

Investment Highlights

  • 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
  • Property has been 100% occupied since inception
  • WALT of over 5 years

Location Highlights

  • 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
  • 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

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Contact Information

400 S. Colorado Blvd | Suite 590
Denver, CO 80246

info@BlueWestCapital.com

720-989-1031