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Shopping Strip

Beverly Plaza

902 Meijer Dr, Champaign, IL 61822

Listing Price: $4,540,000

Cap Rate
6.75%
Gross SF
16,328
Rentable SF
16,328
Price/Gross SF
$278.05
Lot Size
1.63 acres
Year Built
2017

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review Beverly Plaza in Champaign, IL. The 16,328 square foot center was built recently in 2017 on 1.63 acres of land in the heart of the retail corridor in Champaign. The center is 91% percent occupied with a strong mix of local, regional and national tenants providing immediate upside in leasing the one vacant suite. All tenants have options to renew the leases at the end of the base term with healthy rental increases providing an excellent hedge against inflation. The property is anchored by the drive-thru capable Taco John’s. The property sits right across the street from a Walmart Supercenter and on a major retail corridor on Prospect Avenue which boasts traffic counts of over 11,800 vehicles per day. Other retail drivers to the site include an AMC Theater, Meijer, Menards, Best Buy, Costco, ALDI Target, Lowe’s, PetSmart, Lowe’s, Ross, Chick-fil-A among many others. The center has immediate access to I-74 (50,000+ VPD), I-59 (24,000+ VPD), and Marketplace Mall (887,000 square foot destination mall with 109 retailers). The plaza lies on the north side of Champaign home to the University of Illinois and Parkland College. University of Illinois is only 4.2 miles away and enrolls 45,000 students every year. Parkland College is about three miles away and is home to about 10,000 more students. Champaign and the area around the center have been steadily growing since 2000 with 126,873 people living within five miles of the property.

Investment Highlights

  • 91% Occupied | 7-Tenant Center | 16,328 SF
  • 2017 Construction| Minimal Landlord Responsibilities | No Deferred Maintenance
  • Retail Traffic Drivers Include Walmart, Meijer, Menards, Target, Burlington, Lowe's, Pet Smart, Portillo's, Chick-fil-A, ALDI, Starbucks, & More
  • Meijer Draws 1.89M Visits Per Year | Walmart Draws 2.21M | Both in the Top 20% in the State
  • 11,800 Vehicles Per Day on Prospect Ave.
  • College Town | Only 4 Miles to University of Illinois (~45,000 Students) | 3 Miles to Parkland College (~10,000 Students)
  • 130,718 People Living within 5 Miles
  • Ease of Access to I-74 (50,000+ VPD), I-59 (24,500+ VPD), Marketplace Mall (887k SqFt Destination Mall)

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

Shopping Strip

Beverly Plaza

Listing Price: $4,540,000

Cap Rate
6.75%
Gross SF
16,328
Rentable SF
16,328
Price/Gross SF
$278.05
Lot Size
1.63 acres
Year Built
2017

Investment Highlights

  • 91% Occupied | 7-Tenant Center | 16,328 SF
  • 2017 Construction| Minimal Landlord Responsibilities | No Deferred Maintenance
  • Retail Traffic Drivers Include Walmart, Meijer, Menards, Target, Burlington, Lowe's, Pet Smart, Portillo's, Chick-fil-A, ALDI, Starbucks, & More
  • Meijer Draws 1.89M Visits Per Year | Walmart Draws 2.21M | Both in the Top 20% in the State
  • 11,800 Vehicles Per Day on Prospect Ave.
  • College Town | Only 4 Miles to University of Illinois (~45,000 Students) | 3 Miles to Parkland College (~10,000 Students)
  • 130,718 People Living within 5 Miles
  • Ease of Access to I-74 (50,000+ VPD), I-59 (24,500+ VPD), Marketplace Mall (887k SqFt Destination Mall)

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review Beverly Plaza in Champaign, IL. The 16,328 square foot center was built recently in 2017 on 1.63 acres of land in the heart of the retail corridor in Champaign. The center is 91% percent occupied with a strong mix of local, regional and national tenants providing immediate upside in leasing the one vacant suite. All tenants have options to renew the leases at the end of the base term with healthy rental increases providing an excellent hedge against inflation. The property is anchored by the drive-thru capable Taco John’s. The property sits right across the street from a Walmart Supercenter and on a major retail corridor on Prospect Avenue which boasts traffic counts of over 11,800 vehicles per day. Other retail drivers to the site include an AMC Theater, Meijer, Menards, Best Buy, Costco, ALDI Target, Lowe’s, PetSmart, Lowe’s, Ross, Chick-fil-A among many others. The center has immediate access to I-74 (50,000+ VPD), I-59 (24,000+ VPD), and Marketplace Mall (887,000 square foot destination mall with 109 retailers). The plaza lies on the north side of Champaign home to the University of Illinois and Parkland College. University of Illinois is only 4.2 miles away and enrolls 45,000 students every year. Parkland College is about three miles away and is home to about 10,000 more students. Champaign and the area around the center have been steadily growing since 2000 with 126,873 people living within five miles of the property.

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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