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Shopping Strip

Kohl's Strip Center

2470-2474 Veterans Dr, Galesburg, IL 61401

Listing Price: $8,409,000

Cap Rate
7.10%
Gross SF
58,809
Rentable SF
48,809
Price/Gross SF
$142.99
Lot Size
4.60 acres
Year Built
2016

Investment Overview

Marcus & Millichap is pleased to present the Kohl's Strip Center in Galesburg, IL.

Investment Highlights

  • 100% Occupied by Kohl's, Pet Supplies Plus, and Shoe Carnival
  • Originally 15 and 10-Year Leases with Increases Every 5 Years, Shoe Carnival Recently Extended
  • Kohl's Occupies New Smaller Prototype Store, Accounts for 74% of the GLA
  • 70% Increase in Year-Over-Year Revenue for Kohl's, Amazon Partnership Allows Shoppers to Return Items at Kohl's Creating New Customers
  • Pet Supplies Plus Recently Acquired by Franchise Group, Inc. (NASDAQ: FRG), Average-Unit Volume is $2.4 Million and Company Opening 100 New Stores in 2021
  • Shoe Carnival Reported Record-Breaking Sales in the Company's History in 2021
  • 2016 High-Quality Construction, Limited Landlord Responsibilities
  • Outparcel to Walmart Supercenter and New Menards Serving a Trade Area with Approximately 100,000 Residents

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Listing Price: $8,409,000

Cap Rate
7.10%
Gross SF
58,809
Rentable SF
48,809
Price/Gross SF
$142.99
Lot Size
4.60 acres
Year Built
2016

Investment Highlights

  • 100% Occupied by Kohl's, Pet Supplies Plus, and Shoe Carnival
  • Originally 15 and 10-Year Leases with Increases Every 5 Years, Shoe Carnival Recently Extended
  • Kohl's Occupies New Smaller Prototype Store, Accounts for 74% of the GLA
  • 70% Increase in Year-Over-Year Revenue for Kohl's, Amazon Partnership Allows Shoppers to Return Items at Kohl's Creating New Customers
  • Pet Supplies Plus Recently Acquired by Franchise Group, Inc. (NASDAQ: FRG), Average-Unit Volume is $2.4 Million and Company Opening 100 New Stores in 2021
  • Shoe Carnival Reported Record-Breaking Sales in the Company's History in 2021
  • 2016 High-Quality Construction, Limited Landlord Responsibilities
  • Outparcel to Walmart Supercenter and New Menards Serving a Trade Area with Approximately 100,000 Residents

Investment Overview

Marcus & Millichap is pleased to present the Kohl's Strip Center in Galesburg, IL.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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