INVESTMENT OPPORTUNITY
- Prime Location within West Lafayette | Strategically positioned along US Highway 52, a primary retail corridor in West Lafayette, surrounded by major national retailers including Meijer and Menards, and just minutes from the planned $4 billion SK hynix semiconductor facility.
- 100% Occupied Retail Strip Center | The property features a strong lineup of national and service-oriented tenants across three total buildings.
- Minimal Landlord Responsibilities | All tenants operate under NNN leases, reimbursing the landlord for property taxes, insurance, and common area maintenance (CAM), allowing for the full recovery of operating expenses.
- Established Tenant Mix | Tenants have an average tenure of 6.4 years at the center, with a weighted average lease term (WALT) of over 4.1 years remaining.
- Long-Term Commitment from Dunkin’ | Dunkin’ operates from a standalone drive-thru pad site under an original 20-year lease, with over 14 years of remaining term.
- Recent Lease Extensions | Four tenants, including Subway, 212 Salon & Spa, Shu Ge Restaurant, and Indy Smoke Time, have recently extended their leases, demonstrating their long-term commitment to the site.
- High-Trafficked Location | Excellent visibility and access along US Highway 52, which experiences over 20,015 vehicles per day.
- Minutes from Purdue University | Located just minutes from Purdue University, a major regional economic and demand driver with an enrollment exceeding 57,000 students.
- Shadow-Anchored by a Meijer and Menards | Positioned near two major retail anchors, Meijer and Menards, which collectively attract over 2.6 million annual visits, according to Placer.ai.
- Dense Retail Trade Area | Meijer, Menards, Walmart, McDonald’s, Freddy’s, Verizon, AutoZone, 7 Brew Coffee, Starbucks, Take 5 Oil Change, Panda Express, Culvers, etc.
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Locke Plaza | $5,750,000 | 7.00% | NNN | 23,214 | Available |