OFFERING MEMORANDUM 826 Lawrence Dr | Fort Wayne, IN TABLE OF CONTENTS LISTED BY Jake Marthens 3 EXECUTIVE OVERVIEW Associate Mobile +1 949 544 1724 Direct +1 949 300 8486
[email protected] License No. 02096966 (CA) Simon Assaf 4 FINANCIAL OVERVIEW Senior Associate Mobile +1 909 800 7139 Direct +1 949 873 0275
[email protected] License No. 02027273 (CA) Broker of Record Kyle Matthews 6 TENANT OVERVIEW License No. RC51700140 (IN) 10 AREA OVERVIEW ™ 2 | OFFERING MEMORANDUM EXECUTIVE OVERVIEW • RECENT EXTENSION – PPG Paints recently signed an early renewal which extends the lease through November 2026 and added two more 5-year options to extend. • STRATEGIC LOCATION – Centrally located in the heart of Fort Wayne, the property sits just off Illinois Road which has an aver- age of ~35,000 vpd and is across the street from Jefferson Pointe Shopping Center as well as an abundance of national tenants (Target, Walmart, Trader Joe’s, Meijer, Lowe’s, etc.). • E-COMMERCE PROOF BUSINESS – Paint is an e-commerce proof product and will continue to thrive through the rise of E-Commerce. Also, as an essential retailer, PPG Paints has continued to operate throughout the pandemic. • STRONG CREDIT TENANT – Property is leased to PPG Architectural Finishes, Inc. who’s parent company, PPG Industries, has an “A-“ investment grade credit rating. PPG PAINTS | 3 $ $966,000 $72,492 7.50% LIST PRICE NOI CAP RATE BUILDING INFO 826 Lawrence Dr Address Fort Wayne, IN GLA (SF) ±7,102 SF Lot Size (Acres) ±1.55 AC Year Built 1996 APN 02-12-05-351-002.000-076 Parking Spaces 30 4 | DISPOSITION PROPOSAL TENANT SUMMARY ANNUALIZED OPERATING DATA Type of Ownership NN Lease Commence Monthly Rent Annual Rent Rent PSF CAP Lease Guarantor PPG Architectural Finishes, Inc.