The Cushman & Wakefield Midwest Multifamily Advisory Group of Indianapolis has a sale listing for Three Rivers, a 354-unit 1966-built apartment community in downtown Fort Wayne.
The complex underwent a $4.5 million "high-end" renovation in 2020, as noted in the listing, which describes the property as being "located in vibrant and blossoming downtown Fort Wayne and offers huge remaining upside."
The complex, 101 3 Rivers N, on 5.6 acres has an outdoor swimming pool and some of the apartments have river views and residents have access to a fitness center and two art galleries.
Besyata Investment Group and The Scharf Group acquired Three Rivers in early 2019 for $32.25 million.
The complex's website, www.threeriversluxuryapartment.com, lists available or upcoming available studios for rent for $794-$1,977 and 1-bedrooms for $949 and $995. With downtown booming and lots happening on the riverfront, now seems like a perfect time to be a property owner there. Average Fort Wayne rents grew 9.5% between 2020 and 2021 and 35% since 2014, the listing notes.
I've known people who've lived at the complex in the 1980s, 1990s and 2000s and it's always had great access to downtown, but now there is a thriving downtown. The complex has a 98.6% occupancy.
Mergers and acquisitions
This seems to have been the week for merger and acquisition announcements.
Farmers Branch, Texas-based BSN SPORTS, the nation’s largest direct marketer and distributor of sporting goods to the school and league markets and a division of Varsity Brands, announced Jan. 10 that it has acquired SportsCenter Inc. based in Fort Wayne.
Founded in 1992, the business has remained a family-owned operation under the management of Tom and Kevin Rodenbeck. SportsCenter, 5511 Coventry Lane, is used by local youth, high school and collegiate athletic programs. Through this acquisition, BSN SPORTS will add the current owners and the full SportsCenter sales and support staff to its platform to continue serving customers from the current location, which will be transitioned to a BSN SPORTS sales office.
Under the SportsCenter umbrella, the Rodenbecks also manage an apparel decoration business. That will remain under their ownership and join BSN SPORTS’ third-party decoration network.
BSN SPORTS announced that it also recently added Team Sports Ink in Nevada to its fold.
Terry Babilla, BSN SPORTS’ president, said in a prepared statement, “We are thrilled with the addition of the SportsCenter team to our platform, enhancing our ability to service Indiana area coaches, athletes, and athletic programs with a strong local touch. The Rodenbecks’ established their brand by developing personalized solutions for their customers and these attributes align seamlessly with our focus at BSN SPORTS. We relish the opportunity to unlock new tools and resources, from custom campus branding to our elite line-up of product and sport-specific experts, to these athletic programs and organizations.”
SportsCenter co-owner Kevin Rodenbeck added, “The SportsCenter brand was built on a desire to provide a quality customer experience for our local teams and athletic programs, and we are thankful to have had the opportunity to deliver on that promise for the last 30 years. We’re excited to add new dimensions to our portfolio of products and services with the support of a national brand in BSN SPORTS. Through this new beginning, our team is proud to continue servicing our customer base and creating positive experiences for coaches with fresh tools and resources to elevate the experience of our coaches, athletes and community.”
In a different deal, the accounting firm of Hunsche CPA Group announced Jan. 11 that it is merging with Richard Walker CPA, effective Jan. 3 to combine resources and position for future growth. Richard Walker CPA will move its offices to Hunsche CPA Group’s south office located at 4630 W. Jefferson Blvd., Suite 12 B. This merger comes after Hunsche CPA Group announced a similar agreement with Management and Tax Services in 2020.
The combined firms “allow Richard Walker CPA clients to continue to be served by his staff, while giving them access to more resources and services,” Michael Hunsche, managing director of Hunsche CPA Group, said in a prepared statement.
“We want to continue to grow and support the locally-owned business community with quality and reliable tax and accounting services,” said Hunsche, a graduate of Ball State University who opened the Hunsche CPA Group in 2017 after working in the accounting field for more than 15 years. He expect to add two CPAs this summer, as well as a staff accountant at their north location at 1320 Medical Park Drive.
I bagel your pardon
Well, Fort Wayne isn't known for its lox lovers, which might account for its ranking among 2022's Worst Cities for Bagel Lovers.
At No. 150, sandwiched like cream cheese between No. 149 Worcester, Massachusetts, and No. 151 Lubbock, Texas, out of 158 cities. Metrics included
by the number of establishments serving bagels per square mile and average monthly Google search volume for bagel-related terms over the past year. So chew on that.
Ahead of National Bagel Day on Jan. 15, Lawn Love created the rankings where, of course, New York City tops the list followed by San Francisco; Boston; Washington, DC; and Fort Lauderdale, Florida.
I didn't have my first bagel until I was in high school and there was a now-closed shop in New Haven that served them. If I go to Panera, it's usually for the broccoli cheddar soup in a bread bowl. And I haven't been to Einstein Bros. Bagels at Purdue University Fort Wayne. My go-to bagel is The 07 at Davey's Delicious Bagels & Deli. However, Shop Two Sixty looks like a place I need to visit with its pistachio pesto spread: "Loads of hand cut fresh basil, pistachios, smoked almonds & roasted garlic crushed into a paste with that high quality EVOO." Mmm.
Speaking of 260
Fort Wayne Mayor Tom Henry planned to proclaim Feb. 6, or 2-6-22, as (260)Day.
It's a day to show the love in the 260 area code. Fort Wayne Councilwoman Michelle Chambers planned to mark the event as a weekend, Feb. 5 and 6.
Retailers, organizations, professional service providers and the like will offer deals with the event spearheaded by the weekly publication HUB260.
"Through our partners, (260)DAY WEEKEND has garnered incredible buy-in from the region's retailers, restaurants, businesses, organizations and city officials," Sara Fiedelholtz, publishing director, said in a prepared statement. "...Our goal is to make February 6th (2.6.XX) the annual pride fest for the (260)."
Started in 2020, the event is described as "a valentine to northeast Indiana."
Well, I love to shop local/regional, so a discount is a super bonus.
See https://hub260.com for more.