Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 2006
Tenure Type Freehold
Building Area
Land Area

Property Description

JLL is pleased to offer for sale the fee-simple interest in a two-tenant retail building leased to Panera and AT&T. Panera and AT&T have occupied the property since 2006 and recently extended their leases, demonstrating their past and future commitment to the property. Both tenants are operating on net lease structures that feature rental increases in each renewal option and minimal landlord responsibilities. The property is as an outparcel to Honey Creek Commons, a 165,000 square foot shopping center anchored by Kohl’s and Jo-Ann.

Located along US-41, the property has excellent visibility along a highly trafficked retail corridor that features high profile retailers such as Walmart, Kroger, Lowe’s, Hobby Lobby, Sam’s Club and Menard’s. This offering presents the opportunity to acquire a fully-leased retail pad with two nationally recognized and committed tenants.

Investment Highlights

  • Tenants signed early lease renewals of ten and five years, respectively, resulting in a WALT of 8.9 years
  • Property occupied since 2006 and tenants have exercised multiple lease extensions, demonstrating their long-term commitment to this location
  • Strategically located along US-41 (37,000 VPD), Terre Haute's main retail corridor with tenants such as Kohl’s, Jo-Ann, Walmart, Kroger, Lowe’s, Hobby Lobby, Sam’s Club,and Menard’s



Last Updated Date: 18 Aug 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 18 Aug 2020

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