Property History
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Asking Details
Asking Cap Rate
Marketing Description
Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale Meadows Shopping Center,
a 145,754 square foot multi-tenant center located in Portage, Indiana. The property consists of 4 buildings, a 126,758 square foot main parcel and three outlots. Meadows Shopping Center is 100% leased to national and regional tenants including: Starbucks, Dunkin’ Donuts, Jimmy John’s, Family Dollar GNC, Hallmark, CiCi’s Pizza, H&R Block, Aaron’s, Verizon and T-Mobile. The main parcel is anchored by Town & Country Fresh Food Market, a 67,513 square foot full service grocery store.
The subject property sits on the northeast corner of Willowcreek Road and Central Avenue, which sees an average traffic
count in excess of 30,000 vehicles per day, and is located approximately ½ mile south of the I-80/90 interchange and 2 miles south of the I-94 interchange. There are 5 points of ingress/egress for the site, 3 off of Willowcreek Road and 2 off of Central Avenue, including a signalized intersection at Irving Street. The property features outstanding visibility and ample surface parking.
Meadows Shopping Center has an existing loan in place with a balance of $8,391,501 as of 8/6/2017. Please see
the Financial Information on the following page for more information.
INVESTMENT HIGHLIGHTS
- Recent long-term lease extension with anchor tenant Town & Country now set to expire in 2030
- Significant value in Town & Country’s percentage rent ($110,000 is on the lower end of previous 5 year average)
- National tenants include: Starbucks, Jimmy John’s, GNC, Hallmark, CiCi’s Pizza, H&R Block, Aaron’s, Family Dollar, Dunkin’ Donuts, and Verizon Wireless
- Recently remodeled Dunkin’ Donuts, a testament to its success at this location
- Ample parking for all customers
- Excellent exposure to over 30,000 VPD on Willowcreek Rd and Central Ave
- Convenient location off the I-80/90 interchange
- Existing loan must be assumed
Loan History
Financial History
Tax History
Contact Information
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Ownership Information
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Contacts
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BY:
Chad Firsel
•••.•••.1522
•••rsel@•••••••••••.com
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