Ross Dress for Less
Recent Extension | Shadow Anchored by T.J. Maxx, Old Navy, & Best Buy
Marketing description
CBRE's Net Lease Property Group – Midwest is pleased to offer the opportunity to acquire the fee simple interest in 22,000 square foot Ross Dress for Less at Washington Park Plaza in Homewood, IL. This asset features an investment grade tenant with the parent company, Ross Stores, Inc., having an A-/Stable S&P credit rating. This lease is a NN, where the landlord responsibility is limited.
Strategically located within Washington Park Plaza – Homewood's premier retail destination, which attracts approximately 2.9 million annual visitors, Ross Dress for Less benefits from strong foot traffic driven by neighboring national retailers such as Best Buy, Ross, Five Below, Petco, and Old Navy.
Ross Stores Inc. is one of the leading off-price retailers in the U.S. Ross Stores operates two discount clothing chains with 1,904 outlets in 40 states, the District of Columbia, and Guam. The company sells mostly closeout merchandise, including men's, women's, and children's clothing, at prices well below those of department and specialty stores. Ross also sells small furnishings, toys and games, luggage, and jewelry. The chain targets 18-54 year old white collar shoppers from primarily middle-income households. Ross Stores (NASDAQ: ROST) had fiscal year ending January 2025 sales of $21.1 billion.
Investment highlights
- Long-Term Operating History with Recent Lease Extension
- Investment-Grade Tenancy
- Minimal Landlord Responsibilities
- Below-Market Rent
- Washington Park Plaza Anchor
- Excellent Visibility and Access
- Nearby Development – Hotel & Casino
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