Overview

Description

BARNES & NOBLE / PETSMART - STRONG CORPORATE CREDIT –

NATIONAL RETAILERS – LONG-TERM TRIPLE-NET (NNN) LEASES

The subject property is leased to PetSmart on a new 10-year triple-net lease, and to Barnes & Noble, who just

renewed their lease early for 5+ years on a triple-net lease, with rent increases. Barnes & Noble has been successfully

operating at this location since 2002.

INSTITUTIONAL QUALITY ASSET - NO DEFERRED MAINTENANCE -

RECENT LANDLORD IMPROVEMENTS TO ROOF, HVAC, PARKING LOT

– BRAND NEW LOADING DOCK (PETSMART)

Current ownership has meticulously maintained the property as an institutional grade quality asset. In June of 2023,

Landlord completed several major capital improvements, including roof repair and replacement, HVAC servicing and

replacement, along with resealing and restriping the parking lot. As part of the buildout for the PetSmart space, the

landlord built a brand-new loading dock.

IRREPLACEABLE “A+” LOCATION – SITUATED WITHIN TWO TOP

RANKED REGIONAL POWER CENTERS – VALPARAISO MARKETPLACE

& VALPARAISO WALK – OVER 7 MILLION COMBINED VISITORS

ANNUALLY (SOURCE: PLACER.AI)

The subject property is leased to PetSmart on a new 10-year triple-net lease, and to Barnes & Noble, who just

renewed their lease early for 5+ years on a triple-net lease, with rent increases. Barnes & Noble has been successfully

operating at this location since 2002.

Location

MAJOR RETAIL CORRIDOR FED BY THE INTERCHANGE OF STATE HWY

49, HWY 30 & LAPORTE AVE - COMBINED TRAFFIC COUNTS OF 78,000 VPD

Valparaiso Marketplace is strategically located in the busiest retail hub in Porter County. The trade area consists of 4

major regional shopping centers in close proximity. The mix of dining, entertainment and retail options, creates strong

retail synergy. Some of the national tenants include Walmart, Home Depot, Target, Meijer, Menard’s, Best Buy, Hobby

Lobby, Tractor Supply, Aldi, Chick-Fil-A, and Cinemark Theaters.

ADJACENT TO BOTH VALPARAISO UNIVERSITY & IVY TECH COMMUNITY COLLEGE

Valparaiso is home to both Valparaiso University and Ivy Tech Community College. Valparaiso University has a

student enrollment of 4,450 students. Ivy Tech Community College has a nationwide enrollment of 177,000 students

across all of their campuses.

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