Acquisition Date: June 2020
The property is a new development Valvoline Instant Oil at 219 East Ireland Road scheduled to open in 2021. Located in the heart of the Ireland Road retail corridor, the property benefits from its close proximity to US Route 31, US Route 20, and high daily traffic counts on Ireland Road of approximately 20,000 vehicles per day. The development is located at a signalized intersection that shares access with Menards, Panda Express, and Holiday Inn Express. Many national and regional tenants surround the project including Walmart, Menards, Lowe’s Home Improvement, Target, Kohl’s, and AMC Theaters as well as many others. In the past five years, the area has been the focus of many new national retailers including Aspen Dental, Chipotle, T-Mobile, Chick-Fil-A, Texas Roadhouse, Hardees, and Panda Express.
The South Bend market offers strong demographics with over 100,000 residents and over $63,000 in average household income within a three-mile radius of the property. South Bend boasts an overall metropolitan population of over 318,000 people. It is the cultural and economic hub of Northern Indiana and home to the University of Notre Dame.