Time Corners is an 80,353-square-foot unanchored neighborhood shopping center positioned at the northwest corner of Jefferson Boulevard and Covington Road in Fort Wayne, Indiana. The property sits within a high-traffic corridor (Jefferson Boulevard 26,526 VPD; Covington Road 11,699 VPD) and features a well-established tenant roster of national and regional operators, including Dollar Tree, Anytime Fitness, O’Reilly Auto Parts, Sola Salons, and Five Guys Burgers and Fries.
Constructed in 1960 and 1974, and comprehensively renovated in 2015, the center spans approximately 8.5 acres and delivers excellent visibility and direct access to major thoroughfares. Located less than one mile from Interstate 69, the asset benefits from both local and destination-driven customer traffic. Significant recent leasing activity underscores strong market performance, with notable expansions and long-term commitments.
The offering provides investors a compelling value-add opportunity with 12,565 square feet of leasable vacancy remaining, permitting upside potential through lease-up at competitive rates. The property is strategically located in Fort Wayne’s robust retail trade area, proximate to major shopping destinations such as Jefferson Pointe and key residential communities. With occupancy of 84.4%, a stabilized NOI projection of over $932,000, and an asking price of $9,550,000 at a 7.5% cap rate, Time Corners offers a rare chance to acquire a well-performing neighborhood retail asset positioned for future growth.