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RUDISILL
PLAZAOFFERING MEMORANDUM
NON-ENDORSEMENTAND DISCLAIMER NOTICE
NON-ENDORSEMENTSMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.
The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said
corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and
is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
DISCLAIMERTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express
or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and
bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017
Marcus & Millichap. All rights reserved.
Rudisil l PlazaMulti-Tenant Office
JOSEPH DISALVO
First Vice President Investments
Indianapolis, Indiana
Office (317) 218-5334
Cell (317) 410-8788
License IN: RB14051407
PRESENTED BY
O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A
WWW.MARCUSMILLICHAP.COM
FOREST BENDER
Senior Associate
Indianapolis, Indiana
Office (317) 218-5346
Cell (765) 748-6570
License IN: RB14049223
RUDISILL PLAZA
201 E Rudisill Boulevard
Fort Wayne, IN 46806
07PROPERTY ANALYSIS 19FINACIAL ANALYSIS
SECTION 1
Executive Summary • Investment Overview •
Photos • Property Details
SECTION 2
Operating Statement • Tenant Summary • Sales /
Lease Comparables
TABLE OF CONTENTS
PRESENTED BY
RUDISILL PLAZAM U L T I - T E N A N T O F F I C E
25MARKET OVERVIEWSECTION 3
Market Overview • Economy • Demographics
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-
sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
RUDISILL PLAZA
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PROPERTY
ANALYSIS
RUDISILL PLAZA
OFFERING HIGHLIGHTS
RUDISILL PLAZAMULTI-TENANT OFFICE & STNL RETAIL
201 E Rudisill Boulevard, Fort Wayne, IN 46806
OFFERING PRICE
$8,108,000CAP RATE
8.75%
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VITAL DATA
Price $8,108,000
Cap Rate 8.75%
Price/SF $54.30
Rentable Building Area 149,320 SF
Occupancy 97.70%
Net Operating Income $461,231
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RUDISILL PLAZA
201 E Rudisill Boulevard
Fort Wayne, IN 46806
PROPERTY OVERVIEW
Marcus & Millichap is pleased to present the Rudisill Plaza building in Fort Wayne, Indiana. The subject property is a 149,320 square foot office property located just
south of downtown Ft. Wayne. Rudisill Plaza was built in 1988 and houses a wide variety of government and professional office users. Additionally, there is a Little
Caesars just across the street from Rudisill Plaza included in the sale as well as another small office property that houses the Lutheran social services of Indiana.
Rudisill Plaza should remain a stable office investment opportunity in a quickly growing market for many years to come. There is also currently a good amount of
upside in the 21,567 SF of vacancy that would allow a new owner an opportunity for even greater cash flow.
Rudisill Plaza sits on the corner of Clinton and Rudisill and benefits from traffic counts of over 15,000 vehicles per day (VPD). U.S. Route 27/Clinton is one of the major
North/South thoroughfares in the area, which connects the central business district (CBD) of Fort Wayne to the major highway systems surrounding the city.
The heart of Downtown Fort Wayne is just a 4 minute drive from this property, the proximity of this location to downtown is very convenient for the mostly government
office tenant base that Rudisill Plaza houses. Downtown Fort Wayne is currently seeing an influx of new development and capital being infused to the local market. A
new sports arena, event center, redevelopment of the historic GE Campus, and major downtown apartment developments are currently underway, solidifying the
communities investment in Fort Wayne for the long term.
PROPERTY OVERVIEW
▪ Strategically located office property just south of downtown Fort Wayne
▪ Downtown Fort Wayne currently has 5 Major Developments totaling $865M in
the works
▪ Over 15,0000 VPD traffic counts at this location
▪ Excellent location situated on US Route 27/Clinton with easy highway access
▪ 30,000 Square feet of vacancy upside for new owners
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RUDISILL PLAZA
201 E Rudisill Boulevard
Fort Wayne, IN 46806
PROPERTY DETAILS
The subject property is a 149,320 square foot office property located just south of downtown Ft. Wayne. Rudisill Plaza was built in 1988
and houses a wide variety of government and professional office users. Additionally, there is a Little Caesars just across the street from
Rudisill Plaza included in the sale as well as another small office property that houses the Lutheran social services of Indiana. Rudisill Plaza
should remain a stable office investment opportunity in a quickly growing market for many years to come. There is also currently a good
amount of upside in the 21,567 SF of vacancy that would allow a new owner an opportunity for even greater cash flow.
RUDISILL PLAZA
Property Address 201 E Rudisill Blvd, Fort Wayne, IN 46806
Number of Units 17
Number of Buildings Three (3)
Number of Stories Three (3)
Year Built 1988
Lot Size 8.14 Acres / 149,320 sf
Type of Ownership Fee Simple
Parking 800 Free Surface Spaces / 5.36/1,000 Parking Ratio
APN 02-12-14-429-010.000-074
Zoning Commercial
Topography Flat
Highway Access US-27
Foundation Concrete Slab
Framing Reinforced Steel Beam
Exterior Brick & Concrete Block
Parking Surface Asphalt
Roof Ballasted Roof over EPDM
HVAC Roof-Mounted
Elevators Three (3) Passenger | One (1) Freight
Fire Protection Wet-Sprinklered
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RUDISILL PLAZA
201 E Rudisill Boulevard
Fort Wayne, IN 46806
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MapLocal
MapRegional
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-
sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
RUDISILL PLAZA
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FINANCIAL
ANALYSIS
RUDISILL PLAZA
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OPERATING STATEMENT
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TENANT SUMMARY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-
sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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IEWMARKET
OVERVIEW
RUDISILL PLAZA
OVERVIEW
FORT WAYNE
DEMOGRAPHICS
1
ECONOMY
METRO HIGHLIGHTS
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
The Fort Wayne metro is situated in Northeastern Indiana, roughly 125
miles northeast of Indianapolis and borders Ohio. The market consists of
Allen, Wells and Whitley counties and is home to 434,000 residents with
263,000 people living in the city of Fort Wayne. The economy supports a
broad range of industries, including medical devices, insurance, vehicles,
craftsmanship and e-commerce.
THRIVING MEDICAL INDUSTRY
Northeast Indiana has one of the highest concentrations of orthopedic jobs
globally, supported by graduates from nearby research universities.
AUTOMOTIVE INDUSTRIAL BASE
Multiple suppliers serving the nearby General Motors plant provide a cluster of
transportation-related manufacturers.
FOOD AND BEVERAGE INDUSTRY LEADER
An extensive transportation network supports numerous food packaging
industries including corn, soybean and ice cream.
▪ Boosted by Lincoln Financial, the metro is home to numerous insurance companies such as Swiss
Re, American Specialty, MedPro and Brotherhood Mutual.
▪ More than 28,000 employees are in the auto industry, with General Motors, Dana Light Axle,
Michelin/BF Goodrich and American Sportworks located here, among others.
▪ Access to nearby major markets and the FedEx hub in Indianapolis result in BAE Systems, General
Mills and Walmart all investing in logistics infrastructure near Fort Wayne International Airport.
▪ Regional healthcare networks provide more than 10,000 jobs, primarily at Parkview Health Systems
and Lutheran Health Network.
434K
2017POPULATION:
169K
2017HOUSEHOLDS:
36.6
2017MEDIAN AGE:
$53,200
2017 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
37.8U.S. Median:
$56,3004.6%
Growth2017-2022*:
3.3%
Growth2017-2022*:
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PROPERTY NAME
MARKETING TEAM
Source: © 2017 Experian
Created on November 2018
POPULATION 1 Miles 3 Miles 5 Miles
▪ 2022 Projection
Total Population 19,299 87,549 146,577
▪ 2017 Estimate
Total Population 20,191 90,579 149,709
▪ 2010 Census
Total Population 19,797 88,493 146,314
▪ 2000 Census
Total Population 22,318 94,134 153,533
▪ Current Daytime Population
2017 Estimate 15,925 94,342 192,544
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
▪ 2022 Projection
Total Households 6,875 33,801 59,378
▪ 2017 Estimate
Total Households 7,076 34,528 59,903
Average (Mean) Household Size 2.83 2.54 2.41
▪ 2010 Census
Total Households 6,972 33,776 58,511
▪ 2000 Census
Total Households 7,970 37,147 62,938
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
▪ 2017 Estimate
$200,000 or More 1.06% 0.97% 1.03%
$150,000 - $199,999 0.87% 0.66% 0.84%
$100,000 - $149,000 5.14% 4.20% 5.46%
$75,000 - $99,999 7.73% 7.01% 8.66%
$50,000 - $74,999 19.15% 17.94% 18.88%
$35,000 - $49,999 16.25% 15.86% 16.35%
$25,000 - $34,999 15.23% 16.00% 15.72%
$15,000 - $24,999 14.60% 15.37% 14.49%
Under $15,000 17.00% 19.65% 17.52%
Average Household Income $46,142 $43,060 $47,021
Median Household Income $35,123 $32,762 $35,870
Per Capita Income $16,206 $16,760 $19,181
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
▪ Population By Age
2017 Estimate Total Population 20,191 90,579 149,709
Under 20 35.48% 31.79% 29.52%
20 to 34 Years 22.12% 23.14% 23.10%
35 to 39 Years 7.43% 6.76% 6.49%
40 to 49 Years 11.83% 11.76% 11.52%
50 to 64 Years 15.42% 16.66% 17.22%
Age 65+ 7.72% 9.90% 12.15%
Median Age 30.23 31.75 33.18
▪ Population 25+ by Education Level
2017 Estimate Population Age 25+ 11,669 54,962 94,098
Elementary (0-8) 6.59% 5.91% 4.65%
Some High School (9-11) 12.68% 13.35% 11.00%
High School Graduate (12) 29.86% 34.09% 34.32%
Some College (13-15) 23.84% 23.13% 23.74%
Associate Degree Only 8.59% 7.43% 8.10%
Bachelors Degree Only 11.11% 9.96% 11.65%
Graduate Degree 6.19% 4.42% 5.14%
27
MARKETING TEAM
Source: © 2017 Experian
Created on November 2018
POPULATION BY
TRANSPORTATION TO WORK1 Miles 3 Miles 5 Miles
▪ 2017 Estimate Total Population
Bicycle 0.45% 0.33% 0.43%
Bus or Trolley Bus 1.61% 2.39% 1.59%
Carpooled 15.49% 12.39% 10.22%
Drove Alone 77.31% 79.45% 82.75%
Ferryboat 0.00% 0.00% 0.00%
Motorcycle 0.73% 0.24% 0.17%
Other Means 0.78% 0.99% 0.72%
Railroad 0.00% 0.00% 0.00%
Streetcar or Trolley Car 0.00% 0.03% 0.02%
Subway or Elevated 0.00% 0.03% 0.01%
Taxicab 0.00% 0.00% 0.05%
Walked 1.93% 2.11% 1.88%
Worked at Home 1.68% 2.03% 2.15%
POPULATION BY TRAVEL TIME TO
WORK1 Miles 3 Miles 5 Miles
▪ 2017 Estimate Total Population
Under 15 Minutes 29.87% 30.85% 31.63%
15 - 29 Minutes 51.53% 48.37% 48.67%
30 - 59 Minutes 11.54% 12.80% 12.51%
60 - 89 Minutes 1.72% 2.26% 1.85%
90 or More Minutes 1.23% 1.85% 1.47%
Worked at Home 1.68% 2.03% 2.15%
Average Travel Time in Minutes 22 23 22
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8
www.MarcusMillichap.com
Joseph DiSalvo
First Vice President Investments
Director - National Office and Industrial
Properties Group
Indianapolis Office
Tel: (317) 218-5334
Fax: (317) 218-5310
License: IN RB14051407
P R E S E N T E D B Y
Forest Bender
Senior Associate
National Office and Industrial Properties Group
Indianapolis Office
Tel: (317) 218-5346
Fax: (317) 218-5310
License: IN RB14049223
