Shopping Strip
New 7YR NAPA Auto Anchored Retail | ALDI Shadow
2317 Illinois Rte 59, Plainfield, IL 60586
Listing Price: $2,455,000
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.
Investment Highlights
- New 7YR NNN lease just signed to NAPA Auto Parts (Genuine Parts Company - S&P Credit Rating BBB) | NAPA's Investment Grade Credit backs 64% of the center's gross leasable area
- Shadow anchored by an ALDI Grocery Store located immediately north of the NAPA center, as well as a Walgreens located just south -- the properties' share access points and prominent pylon signage
- Stabilized rent roll with a Weighted Average Lease Terms (WALT) of +5.5 years
- Exceptional retail fundamentals - growing population with density of over 75,000 people living within a 3-mile radius | Average household incomes exceed $110,000 annually
- NNN lease structure - all tenants reimburse for taxes, CAM, and insurance
Exclusively Listed By
Shopping Strip
New 7YR NAPA Auto Anchored Retail | ALDI Shadow
Listing Price: $2,455,000
Investment Highlights
- New 7YR NNN lease just signed to NAPA Auto Parts (Genuine Parts Company - S&P Credit Rating BBB) | NAPA's Investment Grade Credit backs 64% of the center's gross leasable area
- Shadow anchored by an ALDI Grocery Store located immediately north of the NAPA center, as well as a Walgreens located just south -- the properties' share access points and prominent pylon signage
- Stabilized rent roll with a Weighted Average Lease Terms (WALT) of +5.5 years
- Exceptional retail fundamentals - growing population with density of over 75,000 people living within a 3-mile radius | Average household incomes exceed $110,000 annually
- NNN lease structure - all tenants reimburse for taxes, CAM, and insurance
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.
Exclusively Listed By

