Broker of Record Kyle Matthews License No. RC51700140 (IN) Matthews Retail Group, Inc. 841 Apollo Street. Suite 150, El Segundo, CA 90245 (310) 919-5757
Matthews Real Estate Investment Services is pleased to offer the opportunity to acquire the fee simple interest in Valley View Plaza (the “Property”), a 29,974 square foot Walmart shadow-anchored strip center located in Marion, IN, approximately 58 miles northeast of Indianapolis, and 47 miles southwest of Fort Wayne. Currently, 79.0% leased, the Property is anchored by AT&T (Expires 1/2024) and Aaron’s (Expires 1/2022), and also features other national tenants such as GameStop, Sally Beauty, Advance America, Boost Mobile, and an Armed Forces Career Center. The Property is ideally positioned at a signalized intersection off of SR-15, sitting in the heart of the Marion retail corridor with good visibility and accessibility into the center. Valley View Plaza provides an investor with an excellent opportunity to acquire a high-quality Walmart shadow-anchored strip center that features long term NNN leases with national tenants, as well as an immediate value-add component allowing an investor to significantly increase gross income through lease-up of the remaining vacancies. This outstanding investment opportunity is being offered free and clear of existing financing.
Walmart Shadow-Anchored – Valley View Plaza is shadow anchored by Walmart Supercenter, the largest retailer in the World by revenue with fiscal year 2019 revenue exceeding $514 billion. In addition to the daily cross traffic the center sees from being shadow anchored by Walmart, the center also benefits greatly from the regional draw Walmart has in Marion, as this is the only Walmart within a 20-mile radius.
Immediate Value-Add Opportunity – At 79% occupied, the Property offers an investor a unique and immediate value-add opportunity to significantly increase gross income through lease-up of the remaining vacancy. With 3 inline vacant units totaling 6,300 SF in GLA (1,500 SF; 1,500 SF; 3,300 SF), all second-generation space, Valley View Plaza presents an investor with the opportunity to increase gross income by approximately $151,000.
College Town Real Estate – The Property is located directly across the street from Indiana Wesleyan University, the largest private university in Indiana with total enrollment of almost 14,000 students – nearly 3,000 of which calling the Marion campus home. Indiana Wesleyan University offers more than 80 undergraduate degrees, 38 graduate degrees, and 5 doctorate degrees. Since 1990, nearly $250 million has been spent on new construction and renovation to its 320 acre main campus in Marion, all helping achieve its national recognition by U.S. News and World Reports ranking it in 2013 as #17 out of over 150 universities on their “Top Universities in the Midwest” report.
Strong Recent Leasing Momentum
Diverse and Internet-Resistant Tenant Mix
Well Located with Signalized Intersection and Good Visibility