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JLL is pleased to offer for sale a Barnes & Noble campus, an ISU Foundation located in Terre Haute, Indiana. The property is positioned just one block off of US-41 (3rd St), a primary area thoroughfare with nearly 40,000 VPD, providing access to Interstates and other major state arterial. It provides a direct frontage on Cherry Street, one of two main entryways into the area from the west. Located critically across both tenants, fulfilling key University functions on-site, the property sits directly across the street from the campus and 2 blocks from the center of downtown Terre Haute.
Barnes and Noble enjoys a naturally replenishing student population that will continue to support the tenant as long as the university remains in operation. Strategic and convenient location across from primary residence and lecture halls gives the tenant a unique advantage that will continue to set the subject location apart from competition. Daytime population is approximately 20,000 people within just one mile of subject asset and is bolstered by a student body comprised of over 13,000 undergraduates and graduates.
•Net leases in place across entire building
•Each tenant has occupied since construction in 2011
•Nearly 10 years of weighted term remaining on rent roll
•Annual increases offer continued yield growth and incremental value
•2 million square feet in retail inventory within 2-mile radius
•Underlying land value enhanced by student and university-oriented tenancy