1702 Commons Dr, Geneva, IL 60134

BITE-SIZED DEAL

• First Watch’s rent of $23.00 PSF is significantly below market, offering an attractive and easily replaceable opportunity should the tenant vacate or run out of options. This compares favorably to the current average rent of $37.68 PSF across other First Watch locations on the market.

NEW 10-YEAR LEASE - FIRST WATCH BACKFILL

• First Watch is operating under a new 10-year lease that commenced in August 2023. The site is a backfill of a former restaurant, offering a turnkey opportunity in a well-established retail corridor.

TENANT GROWTH & BRAND STRENGTH

• First Watch Restaurant Group, Inc. is one of the fastest-growing restaurant chains in the United States. It has 584 system-wide locations across 31 states, including 498 company-owned and 86 franchise locations. First Watch plans to open 59–64 new restaurants in 2025, including its debut in Nevada and continued expansion in Illinois, potentially growing into its 32nd state. The company reported total revenue of $1.02 billion for Fiscal Year 2024, a significant year-over-year increase from the $891.6 million for the same period in the prior year.

GENEVA COMMONS OUTPARCEL

• First Watch is ideally located as an outparcel to Geneva Commons, a 440,370 square foot open-air shopping center with over 60 retailers, including some of the top national and local retailers in metro Chicago. Anchored by Dick’s Sporting Goods, Barnes & Noble, Crate & Barrel, Pottery Barn, and shadow anchored by Fresh Market, DSW, HomeGoods, and Binny’s, Geneva Commons is ranked in the top 9% of shopping centers nationwide in foot traffic rankings with over 3.2 million annual visits (Placer.ai). Adding to the center’s vibrant retail mix, Geneva Commons has recently seen lease activity with several key tenants, including Lulu Lemon, Big Blue Swim School, Hammer and Nails, Beaute by Dipsy, Vera Bradley, 1800 Cut Steak & Sushi, Swish Avenue, Vanessa Cavali Boutique, Jayne Boutique, Gloss Nail Bar, and Melt N Dip, demonstrating the center’s continued appeal to both retailers and shoppers.

RANDALL ROAD RETAIL CORRIDOR

• First Watch is strategically located along Randall Road (31,900 VPD) at the heart of the Randall Road retail corridor. Randall Road is the primary north-south artery serving the far western suburbs of Chicago, stretching 25 miles long and serving the desirable communities of Crystal Lake, Lake in the Hills, Algonquin, Carpentersville, West Dundee, Sleepy Hollow, Elgin, South Elgin, St. Charles, Geneva, Batavia, North Aurora, and Aurora.

• There is over 3 million square feet of retail space with a mere 3.2% vacancy rate along Randall Road between Crystal Lake and North Aurora (CoStar Analytics). Virtually all of the most prominent retailers in apparel, grocery, sporting goods, home furnishings, home improvement, pet supplies, and electronics have locations nearby along Randall Road.

DESIRABLE TRADE AREA DEMOGRAPHICS

• First Watch boasts a desirable and expansive trade area that encompasses the suburbs of Elgin, St. Charles, Batavia, Geneva, and North Aurora. The population in the trade area is 146,356. The average household income is $167,834, 1.43 times higher than the Illinois average and 1.44 times higher than the National average.

KANE COUNTY TAX ADVANTAGE

• Kane County is highly sought after due to its transparent tax assessments and favorable tax environment, particularly when compared to other counties in the Chicago area, notably Cook County.