Orchard Crossing Shops
Closed1122 S. Thomas Rd, Fort Wayne, IN 46804
Property type
Retail
Price
$9,300,000
Building size
18,903 sf
Rentable area
18,903 SF
Year built
2012
Year renovated
Occupancy
Zoning code
Lot size
2.49 Acres
Sold/status
Sold · Date unknown
Sale price
$9300000
Property description
The Atlanta Retail Investment Sales team represented the buyer on this transaction. Orchard Crossing I & II is located directly within The Fort Wayne metropolitan area. Fort Wayne is the hub of Northeast Indiana, with a growing population of over 457,000 residents. The market is ranked 4th among US cities with the lowest cost of living (per Niche 2024) and ranked as the 6th Best City to Buy a House in America. The Fort Wayne MSA also posted the highest growth rate in the state in 2022, more than double the state average and higher than the national average. Indiana has been ranked as the 13th Best State for Business by Forbes and the 2nd Best State to Start a Business. Orchard Crossing is strategically located within one of the one of the wealthiest zip codes in Indiana, with strong disposable incomes resulting in annual retail expenditures of over $3.5 billion. The property features an amazon resistant tenant lineup with an extremely strong credit profile across the rent roll. Over 50% of the in place tenants have occupied their space for 10+ years. The property is shadow anchored by a Super Target and is in proximity to many national retailers. Located just east of Interstate 69, Orchard Crossing is ideally placed at the heart of a heavy concentration of commercial activity and attractive residential neighborhoods. Interstate 69 is accessible to the property via a full interchange with Illinois Road one mile west of the center, providing outstanding access for both the local and regional customer base throughout the Fort Wayne area. The center sits directly off the highly trafficked thoroughfare Illinois Road (30,756 VPD), providing strong visibility for the site.
Property highlights
- 18,903 SF shadow shops to high traffic target
- 100% occupied, amazon resistant tenant lineup with NNN leases
- Located on a hard corner with strong ingress & egress
- Strong credit profile across the entire rent roll
- Recent extensions executed by both Aspen Dental & Verizon due to strong performance at this location
- Starbucks end cap featuring a drive thru
- Proximity to national retailers including: Target, Walmart, Aldi, Trader Joes, Lowe's, Hobby Lobby, Dollar Tree, Wendy's, Chick-Fil-A , among others.
- Directly across the street from the large open air shopping center Jefferson Point , According to Placer.ai, Jefferson Point saw over 5.7 million visits in 2023
- Strong visibility off Illinois Road (30,756 VPD)
- Dense population surrounding the property with 142,000 residents within a 5-mile radius
- Strong historical occupancy- Over 50% of in place tenants have occupied there space for over 10 years