Creative Commons Bizdev Scaling Commons Acia and Asia Commons
Village Commons Property Summary VILLAGE COMMONS · VILLAGE COMMONS Super Walmart & Home Depot...
Transcript of Village Commons Property Summary VILLAGE COMMONS · VILLAGE COMMONS Super Walmart & Home Depot...
VILLAGE COMMONSSuper Walmart & Home Depot Shadow Anchored | Retai l | Greenwood, IN | 43 ,623 SF | 89 .1% LeasedConfidential Offering Memorandum
10201 N. Illinois Street, Suite 275Indianapolis, Indiana 46290-1114317.844.2700lee-associates.com
Rebecca Wells, CCIMSenior Vice PresidentCapital MarketsD 317.218.1041M [email protected]
Jordan CorbinSenior AssociateCapital MarketsD 317.218.1047M [email protected]
Derek ShiremanSenior Financial AnalystCapital MarketsD 317.218.1050M [email protected]
Scot CourtneyPresidentRetail LeasingD [email protected]
Crystal KennardSenior AdvisorRetail LeasingD [email protected]
Smith Valley Road
S STATE RD 135
Village Commons Property SummaryBuilding Acres SF Year Built
VC I 1.23 13,330 2003VC II 1.07 9,302 2006VC III 1.16 13,246 2005VC IV 1.32 7,745 2005
Total 4.78 43,623
INVESTMENT HIGHLIGHTS Value-Add PotentialExisting average lease rates are approximately 14% below market, providing significant upside at lease rollover to market. With a relatively short weighted average remaining lease term of just 2.6 years, the opportunity to grow the NOI of the Property is imminent.
Quality Construction with Timeless Brick and Stone ExteriorBuilt between 2003-2006, the Property has been impeccably maintained and is in excellent condition. The timeless quality and design of the project boosts the overall tenant demand for space within the Property, leading to its current 89% occupancy.
Investment Grade Shadow Anchors Include Grocery ComponentThe recent new construction of WalMart Supercenter provides an attractive grocery component to inves-tors. WalMart and Home Depot both provide strong traffic flow into the Property as well as the overall Village Commons project.
Irreplaceable Corner LocationPremier high traffic corner location at the center of a rapidly growing trade area offers exceptional exposure and visibility to a combined traffic count of 36,000 vehicles per day as well as an unrivaled market position. A new roundabout planned for this intersection will improve traffic flow and access to the Property.
Strong DemographicsApproximately 152,000 people live within a 5-mile retail trade area with an average household income of $76,461, strongly supporting the overall long-term desirability of the location.
VILLAGE COMMONS
The Offering Retail Outlot InvestmentVery Affluent Community | Premier Intersection Location
Lee & Associates (“Lee”), as exclusive advisor, is pleased to present for sale Village Commons (the “Prop-erty”), comprised of four freestanding retail outparcel buildings totaling 43,623 square feet situated in front of WalMart Supercenter and Home Depot. Exceptionally well-located on a prime 4.78-acre corner site, the buildings enjoy outstanding access and visibility along both S.R. 135 and Smith Valley Road, with a combined traffic count of 36,000 vehicles and a retail trade area population of 152,000. The Property offers a well-balanced tenant mix of service, entertainment, medical and health tenants including Which Wich, McNamara Florists, Sports Clips, St. Francis Hospital, Hot Box Pizza, The UPS Store, Gamestop, and Studio You Yoga.
Investment SummaryProperty Village CommonsAddress VC I 862 S. State Road 135, Greenwood, IN 46143
VC II 3113 West Smith Valley Road, Greenwood, IN 46143VC III 3147 West Smith Valley Road, Greenwood, IN 46143VC IV 704 S. State Road 135, Greenwood IN 46143
Property Type Shadow-Anchored Retail Outparcels of Regional Shopping CenterTotal GLA 43,623 RSFOccupancy 89.1%Year Built 2003-2006Total Acres 4.78Parking Approx. 6/1,000 RSF on site, plus cross parking throughout Village CommonsIn-Place Net Operating Income $738,109