700 Broadway Ave E, Mattoon, IL 61938

BITE-SIZED CORPORATE LEASE - IDEAL 1031 EXCHANGE

For sale to qualified investors is the fee simple interest in a brand new, long-term corporate lease with Valvoline in Mattoon, Illinois. The corporately guaranteed lease (NYSE: VVV) features a firm 15 year term plus options, and provides the buyer with 10% increases every 5 years during the initial term and options. This will act as a hedge against inflation and provide future value and revenue growth for the investor. Structured as a ground lease, Valvoline is responsible for all maintenance, repairs, and replacements, rendering this asset as “hands-off” to the investor. The new prototypical facility is located adjacent to Dunkin Donuts and directly in front of the Cross County Mall, a healthy regional shopping center with Rural King, Dunham’s, Marshall’s, and Joann. Mattoon is the primary retail and service destination in the Mattoon-Charleston Micropolitan Statistical Area, which has a trade area population of 101,319 and currently draws from up to 30 miles. Because of this and Mattoon’s central location between Chicago and St. Louis, Lincoln Land of Sports, a $60 Million, 150-acre indoor and outdoor regional sports complex, is opening directly east of Valvoline and estimated to draw 580,000 new customers to the market and add over $23 Million in new direct spending.

ABOUT THE AREA

Mattoon is a city in Coles County, Illinois, situated roughly half-way between Chicago and St. Louis. The city is home to Lake Land College and has close ties with its neighbor, Charleston. Both are principal cities of the Charleston–Mattoon Micropolitan Statistical Area, with a population of 101,319. In addition to being the retail hub for the MSA, Mattoon is home to several companies. Rural King, which is a large retailer for agricultural supplies with a retail footprint throughout the Midwest, South, and Southeast, has its headquarters located on the west side of town off of Dewitt Avenue. Other companies who have heavy focus in the area include Consolidated Communications, which is headquartered on Charleston Avenue, as well First Mid Bank & Trust, which has several important corporate facilities in the area. Other manufacturing plants include a Bimbo Bakeries USA plant, Mars, Incorporated Pet Food, and Justrite. Sarah Bush Lincoln Health System and Carle Foundation Hospital provide many jobs in health care for Mattoon and its neighboring towns and communities, such as Charleston. Lincoln Land of Sports, a $60 Million, 150-acre indoor and outdoor regional sports complex, is opening at the I-57 interchange in Mattoon and estimated to draw 580,000 new customers to the market and add over $23 Million in new direct spending. New retail is also being added to the development, increasing the regional draw to the region.