Giant Eagle - Market District

Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the leasehold interest in a newly constructed Giant Eagle – Market District grocery store located in the Indianapolis suburb of Westfield, considered one of the fastest growing communities in the Midwest.​

LONG TERM NNN LEASE | ZERO LANDLORD RESPONSIBILITY
Giant Eagle is operating on a sublease with primary term expiring on July 31, 2043, with zero landlord responsibilities, making the subject offering a truly passive investment. In addition to the 19 years of remaining term, Giant Eagle has six, 5-year options to extend.

TRULY PASSIVE INVESTMENT
Giant Eagle is operating on an absolute NNN lease with 19 years of remaining base term, and no landlord maintenance responsibilities, making it a truly passive investment.

MARKET DISTRICT CONCEPT
The subject offering is Giant Eagle’s “Market District” concept, offering an expansive selection of basic grocery items, in addition to “grab-n-go” meals that are ready to enjoy upon purchase. In addition to having expanded grocery offerings, the new Westfield location is Giant Eagle’s first zero-waste store, a designation earned by diverting over 90% of all organic waste to local organizations. The subject offering is also LEED certified, displaying the efficiency of the Market District building design.

EXCEPTIONAL POPULATION GROWTH | FASTEST GROWING CITY IN INDIANA
Westfield has experienced the strongest population growth of any city in Indiana, growing by 8% in 2023. On a wider geographical scale, the city also is the fastest growing city in the Midwest and ranked as the 6th fastest growing city in the nation. Population growth is expected to continue over the next five years, increasing by 30.7% and 14.8% within a one- and three-mile radius respectively.

INDUSTRY LEADING TENANT | STABLE GROCERY INVESTMENT
Giant Eagle is a dominant traditional grocer with over 470 locations (between Giant Eagle, Market District, and GetGo stores) in five states. The Westfield location is Giant Eagle’s 2nd store in the Indianapolis area after the very successful Carmel location opened in 2015. The grocery sector provides a stable and defensive investment given its strong consumer demand no matter the economic cycle.

RESIDENTIAL EPICENTER | DENSE & AFFLUENT DEMOGRAPHICS
Located just 15 miles from downtown Indianapolis, Westfield has quickly become a hotspot for residential development, catering to young professionals who prefer suburban living. The area has grown by 323.6% during the 2000’s, 55.4% during the 2010’s, and 30.4% since 2020 alone to a population of 61,323 in 2024. Residential units are quickly growing in the immediately area, with another 600 new single-family homes recently approved for construction just west of the subject property, adding to the strong customer base that the Giant Eagle – Market District serves. The area within a three-mile Radius of the subject offering features 110,163 residents earning average household incomes of $163,858.

SPORTS DESTINATION | TOURISM BASE
The new Market District store is located one mile of the Grand Park Sports Campus, which is the largest youth sports campus in the US, sitting on over 400 acres of land in Westfield featuring 31 multi-purpose fields, 26 baseball/softball diamonds, a 377,000 square foot Events Center with 3 indoor full-size synthetic fields, and office space. The campus is also home to the Indianapolis Colts Training Camp, Pacers Athletic Center, Wright’s 360, and Pro X Athlete Development. Grand Park features an abundance of green space and more than 10 miles of pedestrian/bicycle trails, including the largest trailhead on the Monon Corridor, and hosts several major athletic tournaments, and consumer shows. The park annual experiences about 750,000 visitors and 1.9 million visits.

OPTION TO PURCHASE AS GROCERY PORTFOLIO
The offering represents a rare occasion to purchase a collection of highly coveted, seldom available market-leading Giant Eagle grocery stores operating on long-term net leases. In addition to this subject Westfield, IN location, there are two other Giant Eagle assets in Erie, Pennsylvania and Berea, Ohio available as a part of a portfolio opportunity. Further information on the other properties is available upon request in their individual Offering Memorandums.