State Street Pad

Highlights:

• Fully Occupied Strip: 100% occupied four-tenant retail building
• Long-Term Leases: ~7 years of WALT
• Shopping Center Outparcel: Pad to State Street Market, a 193K SF shopping center anchored by Schnucks, Burlington, and PetSmart
• Attractive Basis: Low price per foot ($217.30)
• Tenancy Momentum: Three of the four tenants signed leases since 2024, demonstrating recent dedication to the location
• Affluent Submarket: $106,000 average household incomes within a 3-mile radius of the subject property
• Foot Traffic Exposure: Subject property located along the main East/West thoroughfare in the trade area lined with numerous high-traffic shopping centers (see below)
• Rockford Crossings: A 300K SF Target-anchored shopping center located adjacent to the subject property that ranks in the top 9% of shopping centers nationwide in terms of annual visits per Placer.ai
• Forest Plaza: A 435K SF Kohl’s-anchored shopping center located across from the subject property that ranks in the top 3% of shopping centers nationwide in terms of annual visits per Placer.ai

Description:

Fully occupied four-tenant retail strip center with excellent intrinsics – shopping center outparcel, long-term WALT (~7 years), & low price per foot ($217)

The subject property is located on E State Street, the primary East/West retail thoroughfare in Rockford exposed to ~30,000 VPD. It serves as an outparcel to State Street Market, a 193K SF shopping center directly adjacent to Rockford Crossings – a 300K SF Target-anchored shopping center – and across the street from Forest Plaza – a 435K SF Kohl’s-anchored shopping center.

CPPCRE Illinois, LLC
IL LIC# 481.014466

Benjamin Udell
Managing Broker
budell@cppcre.com
PH: 847.345.2827
IL LIC# 471.022764

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