The Boulder Group is pleased to exclusively market a single tenant Best Buy for sale property located in South Bend, Indiana. The Best Buy is strategically positioned in a regional retail trade area approximately three miles from the prestigious University of Notre Dame. The property is located along the area\u2019s primary north-south thoroughfare directly across the street from a 920,000 square foot regional mall. Best Buy has operated at this location since 2003. There are approximately seven years remaining on the Best Buy lease which expires March 20, 2023. The absolute triple net lease features a 3% rental escalation in the primary term and in each renewal option period. Best Buy is a leading retailer of technology and electric products with over 1,700 locations worldwide. Best Buy is an investment grade rated company with a Standard & Poor\u2019s rating of BBB-.<\/p>\n
On July 26, 2016, Standard & Poor upgraded Best Buy\u2019s credit rating to BBB- due to expectations for continued improvements and gave the company a stable outlook. Several contributing factors to the Best Buy credit enhancement are that Best Buy’s operating strategies will contribute to better margins, ash flow generation is healthy and liquidity is strong and that the company is committed to maintaining investment grade credit metrics even as it returns some capital to shareholders.<\/p>\n
The Best Buy property is strategically positioned at the signalized intersection of Grape Road and University Drive. Grape Road is the primary north-south thoroughfare in the trade area. This signalized intersection also serves as the main entrance to the University Park Mall which is located directly across the street from the Best Buy property. The University Park Mall is a 920,000 square foot regional mall anchored by Apple, Macy\u2019s, JCPenney, Sears and Barnes & Noble. The Best Buy is benefitted by its central location within the region\u2019s primary retail trade area that features retailers such as Walmart Supercenter, Sam\u2019s Club, Costco, Whole Foods, Target, Home Depot, Lowe\u2019s, Meijer, Menards, Kohl\u2019s, Dick\u2019s Sporting Goods and many others.<\/p>\n
The 50,000 square foot Best Buy building is located approximately three miles northeast of the University of Notre Dame which has a total enrollment of approximately 12,000 students. There are approximately 160,000 people living within a five mile radius of the property.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Boulder Group is pleased to exclusively market a single tenant Best Buy for sale property located in South Bend, Indiana. The Best Buy is strategically positioned in a regional retail trade area approximately three miles from the prestigious University of Notre Dame. The property is located along the area\u2019s primary north-south thoroughfare directly across […]<\/p>\n","protected":false},"author":3,"featured_media":82,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[56,59,57,58],"class_list":["post-81","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-sale","tag-best-buy-for-sale","tag-best-buy-real-estate","tag-net-lease-best-buy","tag-nnn-best-buy"],"yoast_head":"\n