4067 Franklin Street

Highlights:

• Planet Fitness Anchor: Marquette East is anchored by Planet Fitness, one of the most expansion-minded fitness retailers. Operating at the Property since 2013, the tenant recently exercised their first and second five-year options demonstrating their long-term commitment to Marquette East. This location is operated by Planet Michigan City LLC who manages 56 locations across Michigan, Indiana, British Columbia, and Ontario.
• Service-Based Tenant Mix: Marquette East has a diverse mix of service retailers known to be internet-resistant and sticky in nature. This line-up includes GNC, Laporte County Convention & Visitors Bureau, and Planet Fitness.
• Highly Active Regional Retail Corridor: Marquette East is strategically positioned in the Franklin Street retail corridor, northwest Indiana’s dominant retail hub home to over 1.8 million square feet of retail space. National retailers in this submarket include Meijer, Kohl’s, Lowe’s Home Improvement, Walmart Supercenter, Menards, Hobby Lobby, TJ Maxx, and many more. These national retailers draw significant traffic to the area and validates Marquette East as the leading option for prospective retailers entering this corridor.
• Exceptional Frontage & Visibility: Marquette East is situated at the fully signalized intersection of Franklin Street and Highway 20 that draws 33,891 average vehicles per day. The Property boasts 427 feet of frontage along Franklin Street providing excellent visibility. Further, given its connection to Marquette Mall, the Property features 10 points of ingress/egress from Franklin Street, Highway 20, and St John Road providing convenience to customers.
• Locational Advantage Booming Michigan City Market: Michigan City is experiencing an economic boom with multiple exciting developments underway. This includes the $311 million SoLa project, a 628,000-square-foot mixed-use development that will feature two boutique hotels, 188 luxury condos, and retail space at the corner of Franklin Street and Michigan Boulevard. Expected to open Summer 2027, the development is estimated to have $680 million in economic impact in its first 15 years. Additionally, in 2024 developers broke ground on the $101 million Franklin Street tower, a new high-rise mixed building and parking garage that is estimated to generate $150 million in economic impact. In addition to new developments in the city, NIPSCO has begun to clean up the five coal ash ponds on the 123-acre Michigan City Generating Station, pending final shutdown in approximately 2028. This demolition will restore one mile of lakefront space that will potentially draw more visitors to Michigan City’s shoreline.
• Tax Advantage – LaPorte County: Future ownership will benefit 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.

Description:

CBRE is pleased to present qualified investors with the unique opportunity to acquire Marquette East, a 66,270-square-foot shopping center strategically positioned in the growing market of Michigan City, Indiana. Marquette East is anchored by Planet Fitness, which recently exercised two five-year options through 2033, demonstrating their long-term commitment to the Property. A diverse lineup of internet-resistant, service-based retailers, including GNC, LaPorte County Convention & Visitors Bureau, and Sake Asian Fusion joins Planet Fitness. Further, the Property is attached to Marquette Mall.

Marquette East is located at the prime intersection of Franklin Street and US Highway 20, a corridor home to dominant national retailers, including Meijer, Walmart, Lowe’s, Menards, AMC, and more. Further, Michigan City is experiencing an economic boom due to many current and planned developments underway. These projects include the $311 million mixed-use SoLa development and the $101 million Franklin Street apartment units.

At 69.2% occupied, Marquette East offers investors the opportunity to acquire an asset with significant upside potential located in a growing market and a dominant retail corridor.

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