La-Z-Boy Furniture Galleries 5209 N Main St

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire a single tenant La-Z-Boy in Mishawaka, IN. La-Z-Boy just extended their lease for a new 10-year lease term and are in proceeds of doing a complete store renovation. The lease has 10% rent increases every 5 years creating inflation resistant cash flows for years to come. La-Z-Boy operates over 350 furniture galleries across the US and is a publicly traded company (NYSE: LZB) with a market cap exceeding $1.78 Billion.
The 28,650 SF standalone building on 1.1-acre parcel is located along North Main Street (28,800+ VPD), has excellent access from Interstate 80-90 (Indiana Toll Road) and lies within South Bend’s busiest retail and healthcare corridor. Saint Joseph Health System Campus (254 beds acute care hospital) is only a half mile away while University Park Mall (900,000 SF super regional shopping destination) is within a mile of the subject property. University of Notre Dame, one of the top ranked universities in the nation is less than 2.5 miles from La-Z Boy and has an enrollment exceeding 13,100. Other nearby retailers include Whole Foods, Costco, Home Depot, Walmart Supercenter, Sam’s Club, Lowe’s Home Improvement, Target, Menard’s, Meijer, Chick-fil-A, Raising Canes, Starbucks, Chipotle, Panera Bread and more.