Maplecrest Plaza | Kokomo, IN
Value Add Grocery Anchored Center
Marketing description
Cushman & Wakefield Retail Investment Advisors are pleased to present Maplecrest Plaza (the “Property”), a 286,185-square foot, Kroger–anchored community center located in Kokomo, approximately 60 miles north of Indianapolis. Positioned at the signalized intersection of South Washington Street and Lincoln Road, the Property benefits from strong visibility, accessibility, and a central location within Kokomo’s primary retail corridor, with proximity to major national retailers, including Walmart Supercenter, Lowe’s, and Belk.
The Property is currently 89% occupied and sits on a 24.5-acre site with over 1,500 parking spaces, supporting steady customer traffic and convenience. Kroger—ranked as the second-most-visited location in the state—anchors the center and accounts for roughly 18% of GLA and 32% of total revenue. The anchor lineup is further strengthened by a solid mix of national and regional tenants, including Rural King, Harbor Freight Tools, Chandler Wholesale, and The Best Deal Home Furniture, making it a prominent value-oriented retail destination.
The center features a stable roster of long-tenured tenants, providing durable in-place income. Additionally, ten vacancies totaling 30,140 square feet present a clear near-term lease-up opportunity, while below-market rents across portions of the rent roll offer meaningful mark-to-market upside through renewals and new leasing activity.
Please use the following link to access the deal room: Maplecrest Plaza
Investment highlights
TOP-PERFORMING KROGER ANCHOR
• High-volume Kroger, #2 most visited in Indiana psf, drives daily, necessity-based traffic and supports internet-resistant cash flow.
• 52% of revenue from Kroger and Rural King
• Placer estimated sales of $45.2M, resulting in a 1.1% occupancy cost
DOMINANT VALUE-ORIENTED TENANT MIX
• Anchored by Rural King and Harbor Freight Tools, offering a synergistic mix of necessity and retailers that perform well across economic cycles.
COMPELLING VALUE-ADD OPPORTUNITY
• Approximately 30,140 square feet of vacancy provides immediate lease-up potential, complemented by below-market rents that offer attractive mark-to-market upside.
• Stabilized, Year 3 NOI of $1,353,454
ESTABLISHED RETAIL NODE WITH STRONG DEMOGRAPHICS
• Located within Kokomo’s primary retail corridor benefitting from consistent local demand and proximity to major national retailers.
EXCELLENT ACCESS & SITE FUNDAMENTALS
• Situated at a signalized intersection with over 1,500 parking spaces, offering strong visibility, accessibility, and ease of ingress/egress.
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