100% Occupied, 85,811 SF Mall-Shadowed 2-Tenant Retail Center in Lafayette, IN
Anchored by Best Buy (59% of GLA) on NNN Lease thru March 2027; $10.58/SF All-In (Rent + NNNs)
Co-Anchored by Barnes & Noble (41% of GLA) on Gross Lease thru January 2028 at $12.81/SF
Adjacent to a Simon Owned-Tippecanoe Mall, Anchored by Macy’s, Dick’s, JCPenney, and Kohl’s etc. High Occupancy Mall – Strong Cross-Traffic Driver Seeing Over 4.5 Million Visits Annually
Higher Yield Opportunity – 9.50% CAP List Price; Offered Below Replacement Cost at $96/SF
10.6% Cash-on-Cash Return & 13.9% Total Return at Market Debt Terms – 70% LTV, 7.50% IR, 25-Year AM
Fungible Boxes – Single-Story, Linear Orientation Affords a Variety of Feasible Redemising and Redeveloping Options
Market Rent of $16/SF in Surrounding Area, Low Vacancy Rate of 2.7%
Large Parcel with Excess Land/Parking Area to the West of Best Buy’s Box, Further Opening Up any Retenanting or Redevelopment/Additional Development Options if Ever Necessary in the Future
Located within the Primary Retail Trade Area Serving Lafayette Amongst Major Retailers Including Menards, Aldi, At Home, Michaels, PetSmart, Payless Supermarket, Kittle’s, and More
Dense Demos with 67,809/3-Mi & 131,273/5-Mi Population Counts
Situated Along Sagamore Parkway South with 28,000 VPD
1 Mile Away from Local Ivy Tech Community College Branch with Over 8,000 Students Lafayette is Home to Purdue University with Enrollment of 42,000 Students; Just a 1-Hour Drive Northwest from Indianapolis