The Boulder Group completed the sale of a single-tenant net-leased Valvoline property at 219 E. Ireland Road in South Bend, Indiana, for $1.865 million.
The 3,328-square-foot property is positioned near the corner of East Ireland Road and South Michigan Street, which is a primary retail destination. Tenants in the area include Walmart, Lowe’s, ALDI, Menards (which relocated to a larger building along the same intersection as Valvoline), Target, Kroger, JOANN Fabrics, Starbucks, Chick-Fil-A, Walgreens and many more.
The shopping center also features immediate access to Saint Joseph Valley Parkway. There are 133,654 people living within five miles of the property with an average annual household income of $60,800. The property is less than 15 minutes from The University of Notre Dame.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer. The buyer was in a 1031 exchange and based on the west coast.
