Marcus & Millichap Inc.
10/05/2026 | Press release | Distributed by Public on 10/06/2026 12:06
Marcus & Millichap Arranges $2.58M Sale of Big Red Liquors Anchored Shopping Center in Fort Wayne, Indiana
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Marcus & Millichap Arranges $2.58M Sale of Big Red Liquors Anchored Shopping Center in Fort Wayne, Indiana
October 05, 2026
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FORT WAYNE, Ind., Oct. 5, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Coldwater Plaza, a four tenant retail strip property located in Fort Wayne, Indiana. The property sold for $2,575,000.
"Coldwater Plaza offered the buyer a compelling combination of below-market rents, a long-tenured anchor and a location benefiting from continued retail investment," said Madison Harman, managing director investments. "As interest rates rise, multi-tenant strip centers with recession-resistant tenants can provide investors with a more defensive income profile."
Harman and Damien Yoder, investment specialists in Marcus & Millichap's Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Lebamoff Properties, LLC. Fubon Properties, LLC purchased the property.
Coldwater Plaza is situated on 1.33 acres at 5430 Coldwater Road in one of Fort Wayne's primary retail corridors. The fully occupied, 19,245-square-foot property is tenanted by Big Red Liquors, Boudoir Noir and Indy Smoketime. Cap n' Cork has anchored the center since it was built in 1980, and its lease is guaranteed by Big Red Liquors, which acquired the 15-store chain in 2021. The property is one mile from Interstate 69 and across from Walmart, which is undergoing a remodel. Additional nearby investment includes the conversion of the former Aaron's location next door into Carve Market & Deli and the redevelopment of a former Arby's.
"Coldwater Plaza offered the buyer a compelling combination of below-market rents, a long-tenured anchor and a location benefiting from continued retail investment," said Madison Harman, managing director investments. "As interest rates rise, multi-tenant strip centers with recession-resistant tenants can provide investors with a more defensive income profile."
Harman and Damien Yoder, investment specialists in Marcus & Millichap's Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Lebamoff Properties, LLC. Fubon Properties, LLC purchased the property.
Coldwater Plaza is situated on 1.33 acres at 5430 Coldwater Road in one of Fort Wayne's primary retail corridors. The fully occupied, 19,245-square-foot property is tenanted by Big Red Liquors, Boudoir Noir and Indy Smoketime. Cap n' Cork has anchored the center since it was built in 1980, and its lease is guaranteed by Big Red Liquors, which acquired the 15-store chain in 2021. The property is one mile from Interstate 69 and across from Walmart, which is undergoing a remodel. Additional nearby investment includes the conversion of the former Aaron's location next door into Carve Market & Deli and the redevelopment of a former Arby's.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
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