Whitestown Parkway Center
Institutional Quality Asset & Prime Location | $165K AHHI | NNN Leases
Marketing description
The Klink Group of Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Whitestown Parkway, a 100% occupied Class A multi-tenant retail strip center located in Zionsville, Indiana within the Indianapolis MSA.
Constructed in 2018, the Property features high-quality Class A construction, including a brick and stone façade, professionally maintained landscaping, no deferred maintenance, and approximately 11 years of remaining roof warranty coverage. Whitestown Parkway is fully leased to a diverse tenant roster consisting of Marco's Pizza, Palm Beach Tan, Pet Wellness Clinic, GNC, and Desi Chowrastha Indian Restaurant. All tenants operate under triple-net lease structures and reimburse their pro-rata share of common area maintenance expenses, real estate taxes, insurance, and management fees. Additionally, all tenants, with the exception of Palm Beach Tan, are responsible for HVAC replacement throughout the remainder of their lease terms.
Whitestown Parkway presents investors with the opportunity to acquire a fully stabilized Class A retail asset within one of the fastest-growing and most affluent submarkets in the Indianapolis MSA. The Property offers future revenue growth through tenant renewal options and the potential to capture market rent growth over time, all within a supply-constrained trade area supported by strong demographics, robust population growth, and significant ongoing residential development.
Investment highlights
CLASS “A” CONSTRUCTION | TRIPLE-NET LEASES | ROOF WARRANTY
- All Tenants Operate Under Triple-Net Leases, Reimbursing Their Pro-Rata Share of Landlord Operating Expenses (CAM, Real Estate Taxes, Property Insurance, and Management Fee)
- 2018 Class “A” Construction with High-Quality Finishes and Facade and Professionally Maintained Landscaping
- Transferable Roof Warranty in Place with 11 Years Remaining
AFFLUENT SUBMARKET | HIGH BARRIERS TO ENTRY | SURROUNDED BY NATIONAL RETAILERS | GROWING RESIDENTIAL COMMUNITIES
- The Property is Located in the Zionsville/Whitestown Area of Indianapolis, a Nationally-Recognized and Top-Tier Submarket with a 1-Mile Average Household Income of Approximately $165,000
- Located along Whitestown Parkway, Whitestown's Premier Retail Corridor, the Property Benefits from Approximately 30,000 vehicles per day and is Surrounded by a High Concentration of National Retailers and Rapidly Expanding Residential Communities
- Generational Wealth Opportunity to Acquire a Class “A” Retail Asset in a Fast-Growing and Highly-Sought After Affluent Submarket with Below Market Rents
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