Valley View Plaza | Value-Add Opportunity

Highlights:

• Value-Add Opportunity: Valley View Plaza is 87.1% occupied, with 4,800 square feet of shop space available to lease up. An investor will have the opportunity to increase NOI through the lease-up of the existing 4,800-square foot vacancy.
• Impressive National Tenant Line-Up with Dedication to Site: 93% of the center is occupied by national tenants including Goodwill, Dollar Tree, Cricket, and CATO, providing stability and credibility to the property. The presence of these national tenants not only adds to the credibility of Valley View Plaza but also ensures a diverse range of offerings for customers. This dynamic mix of stores creates a vibrant and engaging shopping environment, attracting a broad demographic of visitors. The Property benefits from a Weighted Average Lapsed Lease Term of 15.12 years. This demonstrates the longevity of the tenants, dedication to the shopping center, and ensures NOI stability for an investor.
• Traffic Generating Shadow Anchor & Nearby National Retailers: Valley View Plaza is shadow anchored by Walmart. Other national retailers in close proximity include Starbucks, Tractor Supply, Lowe’s Home Improvement, RP Home & Harvest, Meijer, Kohl’s, TJ Maxx, Hobby Lobby, and many more. These tenants have proven to be regional draws to the area and drive incremental traffic to the Property. This Meijer location is a strong performer within the chain averaging an estimated 1.8M annual visits and ranks in the top 41% nationally. The strong shadow tenancy validates this Property as the leading option for prospective retailers entering this retail corridor.
• Excellent Accessibility: Valley View Plaza occupies a prime location along the bustling Western Avenue, which sees a significant daily flow of 24,007 vehicles passing per day. This high-traffic area ensures excellent visibility and exposure for the property. The property has direct access from a traffic signal and three ingress/egress along Western Avenue to the east and Valley Avenue to the west.
• Low Taxes: New ownership will enjoy benefiting from Indiana’s low property tax expense. This lower rate than most surrounding markets will allow an investor to drive their base rent and bottom line.
• Sales Terms: Valley View Plaza is being offered on an “as-is” basis, with ownership making no representations or warranties with respect to the accuracy or completeness of the offering memorandum or any and all documents delivered to an acquisition prospect for the purpose of performing due diligence.
• Free and Clear Offering: Valley View Plaza is being offered free and clear of existing debt obligations. This enables future investors to structure their capital requirements according to their needs.

Description:

Qualified investors are extended the opportunity to acquire Valley View Plaza, a 37,193-square-foot shopping center located in a prime retail corridor serving the suburb of Marion, Indiana. The Property is conveniently situated along Western Avenue, and shadow anchored by Walmart. Valley View Plaza is positioned between Fort Wayne and Indianapolis in Marion, Indiana, a suburb in Grant County. Additionally, the county is home to Wesleyan University and Marion General Hospital. Furthermore, the Fort Wayne International Airport is conveniently situated 45 minutes northeast of Marion.

Valley View Plaza is 87.1% occupied, presenting a value-add opportunity to drive NOI by leasing up the 4,800 square feet of vacancy. The Property is leased to a mix of national tenants including Goodwill, Dollar Tree, and CATO. The Property is located along the Western Avenue retail corridor in Marion, the dominant retail hub the trade area. The submarket is anchored by many national retailers including Meijer, Hobby Lobby, TJ Maxx, Lowe’s Home Improvement, R.P. Home & Harvest, and more.

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