Kent Plaza
Retail | 8.11% CAP | 94,260 SqFt
Investment highlights
• 90% Occupied, 94,260 SF O’Reilly Auto & Ollie’s Anchored Community Shopping Center
• Ollie’s (NASDAQ: OLLI) and O’Reilly Auto (NASDAQ: ORLY) Backfilling Former Grocery Space | Lease Term thru 2/2034 and 2/2041 Respectively
• 1.5 Miles to Walmart + ALDI | Both #1-in-Chain Stores within 50-Mile Radius
• 3 Miles to University of Illinois Springfield (4,661 Students, #1 Public Regional University in IL); 4.5 Miles to Lincoln Land Community College (5,238 Students)
• Upside From 10% of Vacant GLA | $126K of Projected Income/NOI Upside
• Adjacent to 43K VPD Signalized Intersection | 1.5 Miles to I-55/I-72 Highway Exits w/ 86K Combined VPD
• WALT of 8.1 Years | National Tenants Represent 77% of Occupied GLA
• Complementary Daily-Needs Tenant Lineup: Auto, Discount, Education, Food, Bar, Financial (x3), Dental, Pet, Insurance (x2), Nails, etc.
• Infill Demographics: 9K People within 1-Mi / 65K within 3-Mi / 125K within 5-Mi
• Located on High-Performing Fast- Casual Retail Corridor | Top- 25% Chain Performers Include Taco Bell, Starbucks, Subway, Arby’s, McDonalds, Dominos, Jimmy John’s, & Dunkin
• Geographically Proximate to Major MSA’s: 1.5 Hours to St. Louis / 3 Hours to Indianapolis / 1 Hour to Peoria
• Springfield – Capital of Illinois / 475,000-Resident MSA / 2nd Most Populous City Outside of Chicago MSA / Stable Government, Healthcare, & Education Employment Base
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