Indiana/Kentucky Portfolio
211,000 sf Retail Center Portfolio
Major Tenants: Third Bank, McDonalds, U.S. Cellular
The portfolio consists of twelve well-located and strongly-leased shopping centers comprising a total of approximately 211,000 square feet. The centers are in excellent condition as most of them were built within the past seven years. Syndicated is particularly enthusiastic about the geographic and tenant-based diversification offered by this portfolio, which limits the downside risk associated with any single site or tenant acquisition. The portfolio’s tenants include: Fifth Third Bank (S&P: AA-), McDonalds (S&P: A), U.S. Cellular (S&P: A-), Bridgestone Firestone (S&P: BBB+), Dollar General (S&P: BB+), Blockbuster Video (S&P: BB), Starbuck’s Coffee, Quizno’s Subs, Hallmark Cards, Edward Jones Investors, and American Family Insurance. The vast majority of tenants have signed triple net leases without any co-tenancy or restrictive use clauses.
Six of the centers are located in desirable and economically affluent locations around the Indianapolis area. For these six centers, the average household income within 3-miles of each location is $77,456 and the average population size is 65,790. The other six centers are located in equally desirable areas throughout Indiana and Kentucky and many benefit from their close proximity to big box retailers. For these six centers, the average household income within 3-miles of each location is $48,368 and the average population size is 23,732.
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