813 E. Marion St
2024 Build | 8-Years Remaining on Lease
Marketing description
Converse, Indiana is positioned within north-central Indiana's stable economic corridor, anchored by nearby Kokomo, a key hub for automotive manufacturing and advanced industry. The region benefits from a diverse employment base spanning manufacturing, logistics, and agriculture, supporting consistent population trends and local spending. Connectivity via State Road 19 and access to nearby U.S. highways provide efficient links to larger employment and retail centers, allowing Converse to maintain a cost-effective environment while remaining integrated with broader regional growth.
From an investment perspective, Converse offers steady, needs-driven demand supported by limited new development and constrained supply. This dynamic is particularly favorable for retail, service-oriented, and small industrial assets serving the surrounding rural population. The combination of affordability, stable employment drivers, and low competitive pressure positions the market for durable occupancy and predictable cash flow, aligning well with investors seeking long-term stability and yield in secondary and tertiary markets.
Investment highlights
- 2024 build-to-suit construction for Family Dollar
- ±8 years remaining on an initial 10-year lease
- Four, 5-year renewal options all of which include a $5,250 ($0.50/SF) rent increase
- Corporately guaranteed lease
- Average household income of $88,198 annually within a 10-mile radius
- Converse is located ±11 miles East of Marion and ±20 miles Southwest of Kokomo
- In 2025, Family Dollar was acquired by private equity investors (Brigade Capital Management, Macellum Capital Management, and partners) in a ~$1.0B transaction to reposition the brand as a standalone retailer, separate from Dollar Tree. The new ownership is focused on operational turnaround, brand reinvestment, and portfolio optimization.
- Now operating independently, Family Dollar benefits from fresh capital and experienced retail leadership, supporting store upgrades and improved execution. Its value-oriented model and strong community presence position it as a resilient tenant with long-term growth potential.
- With 8,000+ U.S. locations, Family Dollar offers broad access to essential grocery and household goods. Its neighborhood-focused footprint supports convenient, quick-trip shopping for budget-conscious consumers.
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