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1301 S Harrison St
Fort Wayne, IN 46802
Lincoln National Life Corporate Headquarter · Office Property For Sale
Investment Highlights
- Mostly NNN-Absolute
- Credit Rated S&P 500 Tenant
- Landmark Building, $19M+ Invested in Renovations by Tenant (2018-2020)
- Fully Guaranty by Lincoln National Life
- 5 Plus Years Remaining on Term with Extensions Available
Executive Summary
NNN Leased Lincoln National Life corporate headquarters in downtown Fort Wayne, IN. The property is 97% leased with Lincoln Financial being the only tenant. Lincoln has occupied the original portion of the Harrison building since 1924. To accommodate their continued growth, the original building was expanded on two occasions along with an additional office building, a service center and a structured parking garage. The sale will include the Harrison building (535,743 SF), the Service building (41,820 SF) and the structured parking garage. The property is leased through December 31, 2029 with 2% annual increases in rent (the next rent increase on 1/1/2025). Lincoln also has one (1) ten (10) year option to renew.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
566,867 SF
Building Class
B
Year Built/Renovated
1925/2020
Price
$37,972,283 CAD
Price Per SF
$66.99 CAD
Cap Rate
7%
NOI
$2,658,060 CAD
Tenancy
Single
Building Height
9 Stories
Typical Floor Size
62,985 SF
Slab To Slab
12’
Building FAR
2.63
Lot Size
4.94 AC
Opportunity Zone
Yes
Zoning
DC
Parking
378 Spaces (0.67 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 02-12-11-207-002.000-074 | Improvements Assessment | $21,355,109 CAD |
| Land Assessment | $881,706 CAD | Total Assessment | $22,236,815 CAD |
Property Taxes
Parcel Number
02-12-11-207-002.000-074
Land Assessment
$881,706 CAD
Improvements Assessment
$21,355,109 CAD
Total Assessment
$22,236,815 CAD
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