Multi-Tenant Retail - Peoria, IL

Asset Type

Retail

Address
5116 N Big Hollow Rd Peoria, IL United States 61615-3511
Asking Price

S$6,508,000

Sq Footage

10,260

Year Built

2010

Cap Rate

7.56%

Additional Attributes

Property Description

Three-tenant retail center for sale in Peoria, IL. The 10,260 sq ft property fronts Big Hollow Road, Glen Hollow and War Memorial Drive. Fully leased to a roster of corporate tenants that includes Aspen Dental, Vitamin Shoppe and All About Eyes, all in like-size retail bays and all three leases feature multiple upcoming renewal options with attractive rental increases in each. The newly constructed Asset features 15 years of primary lease term remaining, contractual rent growth at 10% every 5 years, and zero landlord obligations. It is in close proximity to Target, Lowe's, Best Buy and PetSmart, along with many other popular retailers and restaurants, and just one mile from Northwoods Mall and I-75. Peoria is the largest city outside of the Chicago MSA, benefitting from a diverse range of industries and a large concentration of higher education institutions.

Investment Highlights

  • Fee simple interest
  • Newly-constructed center features three NN leases with 15 years of primary lease term remaining
  • Contractual rent growth at 10% every five years
  • Zero landlord obligations
  • Opportunity to invest in a fully-leased retail location with exceptional tenant strength and premium retail location


Listing Contacts
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
+65 3159 4021
IL - 475.170243
Nicholas Kanich
Nicholas Kanich
SVP, Capital Markets
+65 3159 4021
IL - 475147401
Interested in this property?

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.