PETSMART & DOLLAR TREE
Retail | 7.50% CAP | 30,087 SqFt
Marketing description
Prime Net Lease is pleased to exclusively present the opportunity to acquire a corporate-guaranteed, NNN-leased property occupied by PetSmart and Dollar Tree in Forsyth, Illinois. This 100% occupied, two-tenant retail center offers investors a stable, triple-net lease investment backed by two nationally recognized retailers serving necessity-based consumer demand.
Both PetSmart and Dollar Tree have occupied the property since January 2006 and have exercised multiple renewal options, demonstrating nearly two decades of successful operations and continued commitment to the location. The property features corporate-backed triple net leases, minimizing landlord responsibilities while providing stable, predictable cash flow with built-in rental growth through contractual rent increases during option periods.
Strategically located directly across from Hickory Point Mall, the region's primary shopping destination, the property is shadow-anchored by Best Buy and surrounded by a dense concentration of national retailers, restaurants, and service providers that drive consistent customer traffic. The trade area benefits from affluent demographics with average household income exceeding $124,000 within 1 mile and $84,000 within 3 miles, along with a strong daytime employment base of more than 11,500 employees within 3 miles.
Investment highlights
- 100% OCCUPIED TWO-TENANT CENTER - Fully leased to PetSmart and Dollar Tree, two nationally recognized retailers serving necessity-based consumer demand.
- LONG-TERM TENANT COMMITMENT - Both PetSmart and Dollar Tree have occupied the property since January 2006 and have exercised multiple renewal options, demonstrating nearly two decades of successful operations and continued commitment to the location.
- CORPORATE-BACKED TRIPLE NET LEASES - Both tenants operate under NNN lease structures, minimizing landlord responsibilities while providing stable, predictable cash flow.
- BUILT-IN RENTAL GROWTH - Both leases feature contractual rent increases during option periods, providing investors with future income growth and inflation protection.
- DOMINANT RETAIL CORRIDOR LOCATION - Situated directly across from Hickory Point Mall, the region's primary shopping destination and retail hub serving Decatur and the surrounding trade area.
- SHADOW-ANCHORED BY BEST BUY - Adjacent to Best Buy and surrounded by a dense concentration of national retailers, restaurants, and service providers that drive consistent customer traffic.
- LIMITED COMPETITION WITH STRONG MARKET POSITIONING - PetSmart is the only national pet supply retailer within approximately 40 miles, while Dollar Tree benefits from strong brand recognition and value-oriented consumer demand.
- AFFLUENT TRADE AREA - Average household income exceeds $124,000 within 1 mile and $84,000 within 3 miles, supporting strong retail spending and long-term tenant performance.
- STRONG DAYTIME EMPLOYMENT BASE - More than 11,500 employees within 3 miles and over 30,000 employees within 5 miles provide a substantial daytime population that supports surrounding retail activity.
- ESTABLISHED REGIONAL RETAIL DESTINATION - Located within the Hickory Point retail corridor, one of Central Illinois' most established shopping districts, drawing consumers from throughout the Decatur metropolitan area and surrounding counties.
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