Investment Overview

This grocery-anchored shopping center is 99 percent occupied, boasting a strong lineup of national tenants including Barnes & Noble, The UPS Store, Kumon Math & Reading Center, Chuck E. Cheese, LL Flooring, and H&R Block, anchored by Schnucks Supermarket. Recent leasing activities have been positive, with the Proving Ground Bouldering Gym's lease set to commence in August 2024. Bloomington Commons has seen impressive foot traffic, with 1.7 million visits in the last year according to Placer.ai. There's an opportunity to add value through leasing a vacant suite and developing an outlot of up to 10,000 square feet. Currently, the outlots are home to Olive Garden, Texas Roadhouse, and JoAnn Fabrics, with the latter two recently moving into new construction buildings within the development. The property boasts an extremely large parking lot with approximately 700 surface spaces, and sees high traffic at the intersection of East Empire Street and Veterans Parkway, with over 61,000 vehicles per day. Adjacent to Eastland Mall, Bloomington-Normal’s only indoor shopping center, the location benefits from notable tenants like Kohl’s, Express Factory Outlet, Planet Fitness, Ulta Beauty, Bath and Body Works, Finish Line, Buckle, and more, attracting 2.5 million visits in the last year. Strategically, the shopping center is less than a mile from the State Farm Insurance Corporate Headquarters, where 15,000 employees work. It's also conveniently located just 3.3 miles from Illinois State University, which has an enrollment of 20,600 students. The area surrounding the property is densely populated, with 129,705 residents living within a five-mile radius and 125,772 employees working within three miles, making it a prime location for retail and commercial activity.