A shopping center constructed in the 1970s continues to support the retail sector in Fort Wayne, Indiana, with a grocery anchor tenant and a mix of national and local retailers.
Covington Plaza, located at 6306-6410 W. Jefferson Blvd., is a roughly 182,000-square-foot retail center built in 1978 and renovated in 2007. The shopping center is anchored by The Fresh Market, a national grocery store chain based in Greensboro, North Carolina, with more than 160 stores in nearly two dozen states. Other national tenants in Covington Plaza include Office Depot and Planet Fitness, and local businesses span multiple industries, including fitness, health care, dining and salon/spa services.
By hosting a national grocer, Covington Plaza is positioned to attract interest from investors and prospective tenants alike. Heading into 2026, retail centers were considered "one of the most in-demand investment sectors in commercial real estate," according to a CoStar analysis, with grocery-anchored properties being considered "highly contested."
Covington Plaza was sold in August 2025 and has been selected by a panel of local industry professionals as the winner of the 2026 CoStar Impact Awards for sale/acquisition of the year for Fort Wayne.
Covington Plaza also touts high occupancy with long-term tenants. The shopping center has an occupancy rate of more than 90%, according to CoStar data, and about 60% of its leased space is held by tenants that have operated there for more than a decade.
About the deal: Ziff Real Estate Partners, based in Mount Pleasant, South Carolina, purchased Covington Plaza for $23.21 million, or approximately $139 per square foot. The seller was Broad Reach Retail Partners, based in Millersville, Maryland. Ziff Real Estate Partners has indicated plans for aesthetic and physical improvements to the property.
What the judges said: Dave Horacek, vice president of brokerage at Allied Commercial, said the transaction was a "great sale for the market due to size and tenant mix."
They made it happen: Richard Drogosz, principal and managing broker; Joe Girardi, principal, and Ben Wineman, principal, of Mid-America Real Estate represented the seller in the transaction.