Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase Caton Farms Plaza – a NAPA Auto Parts anchored retail center located in Plainfield, IL. NAPA just signed a new 7YR lease, taking over approximately two thirds of the center's gross leasable area. The balance of the tenants are service oriented and internet resistant, operating out of small, 1,000 square foot suites with shallow depth bays and prominent visibility. With a Weighted Average Lease Term of over 5.5 years, this retail center is highly stabilized and eminently financeable. Between ALDI, NAPA, and Walgreens, the inherent synergies between the anchor tenants and the B-space tenants are immediately apparent. Shadow anchored by ALDI and Walgreens, this property enjoys visibility to over 57,000 vehicles per day. The tenants at Caton Farms Plaza benefit from prominent pylon signage on Route 59, signage that they share with ALDI. The properties’ also share points of ingress and egress. The property is located along a dense retail corridor, with abundant traffic drivers in the immediate vicinity. Located in the Chicago MSA, Plainfield is a growing submarket with excellent population density (over 75,000 people live within 3 miles of the location) and average incomes that exceed $110,000 annually. This is an excellent opportunity to purchase a stabilized retail center with long term, NNN leases, primarily backed by investment grade credit, at basically replacement cost.