FCA Net Lease Portfolio 4 Retail Properties in Multiple Locations

The portfolio is leased to Floor Covering Associates (FCA), a nationally recognized floor covering retailer founded in 1976. FCA offers a full spectrum of carpet, flooring, and interior furnishing products from top-quality manufacturers and provides turnkey installation services, value-oriented pricing, and special financing options. The tenant has consistently ranked among the top U.S. floor covering retailers per Floor Covering Weekly and currently operates multiple locations across Illinois and Indiana, underscoring long-term brand strength and operational stability.
The properties are leased well below market rents across all locations, providing meaningful upside potential. Average market rents in the surrounding retail corridors significantly exceed in-place rents, including Naperville ($17.39 psf market vs. $10.53 psf), St. Charles ($22.00 psf vs. $13.55 psf), Merrillville ($9.00 psf flex/office/industrial vs. $5.04 psf), and Shorewood ($11.72 psf vs. $4.58 psf). This below-market rent profile enhances future re-leasing, rent growth, or redevelopment optionality.
The assets are also offered well below replacement cost, further strengthening downside protection. The retail properties are located in premier suburban Chicago submarkets along established retail corridors characterized by strong household incomes, healthy traffic counts, and substantial daytime populations, supporting ongoing tenant viability and long-term investment performance.