Monday, January 10, 2022

JLL Capital Markets closes sale of 150,163-sf Apple Glen Crossing open-air power center in Fort Wayne, IN

 

 Amy Sands 

CHICAGO, IL, Jan. 10, 2022 JLL Capital Markets has closed the sale of Apple Glen Crossing, a 150,163-square-foot, open-air power center anchored by Best Buy and Dicks Sporting Goods in Fort Wayne, Indiana.

 JLL marketed the property on behalf of the seller, Brixmor Property Group. Berengaria Development, the real estate arm of Marcus Investments LLC, a private investment firm, purchased the asset. 

Clinton Mitchell 

Ranked in the top five percent of shopping centers nationally and in Indiana, Apple Glen Crossing is 94 percent leased to a dominant lineup of national tenants such as Best Buy, Dick’s Sporting Goods, Kohl’s, Shoe Carnival, PetSmart and Ulta Beauty.

Adding to the diverse tenant mix are Triumph Box & Ryde, Cali Nails, Wendy’s, Sports Clips, Herbalife, America’s Best Contacts & Eyeglasses, Warhammer and The Hearing Center, among others.

 Completed in 2000, the asset also has space to expand with the addition of a 10,934-square-foot outparcel pad site, and the property is shadow anchored by a non-owned Kohl’s and large discount retailer.

 

Michael Nieder

Positioned on 17.43 acres at 1720-1770 Apple Glen Blvd., Apple Glen Crossing has excellent visibility due to its location between Illinois Road and Jefferson Boulevard, which have a combined traffic count of 56,308 vehicles per day.

 The property is also within Fort Wayne’s destination retail corridor, which helps drive traffic to the center, which, according to Placer.ai, has welcomed 3.7 million visitors over the past 12 months.

The center serves a trade area that includes137,293 residents and 117,687 daytime employees within a five-mile radius.

Tim Murray

The JLL Retail Capital Markets team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Vice President  Tim Murray.

 For more news, videos, and research resources on JLL, please visit our newsroom.


CONTACT:

Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 jaypeirick@marcusinvestments.com

 jll.com.

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