Noodles & Company and Dog Haus

Highlights:

• PROMINENT RETAIL LOCATION 4712 North University Street is strategically positioned in one of the most dense and strong demographic commercial areas of Peoria at the fully signalized intersection of University Street and Glen Avenue (combined 35,500 VPD). The subject offering features one pylon sign along University Street to accentuate its visibility. Regional accessibility is provided via an interchange with Interstate 74 (38,800 VPD) located one mile southwest, which serves as the main artery for commuters and consumers throughout the greater Peoria area.
• NATIONAL TENANT LINEUP The subject offering features a stable tenant base of national restaurant users featuring a weighted average lease term of nearly 6 years. The offering is located next to Metro Centre, a successful shopping center that’s been operating for 50+ years and features long-term local and national tenants. As a result, Metro Centre has become a pillar of the Peoria community with an established customer base averaging over 1.2 million visits per year (Placer.ai data).
• ESTABLISHED DEMOGRAPHIC PROFILE | 113.7K RESIDENTS WITHIN A 5-MILE RADIUS SEASONAL CUSTOMER INFLUX Given its position in the Peoria regional trade area, the subject offering has an expanded consumer base serving over 400,000 residents. The immediate surrounding area features a solid local profile with a residential population of 113,700 within a 5-mile radius and a corresponding average household income of $84,000. Every MondaySaturday from May to October, Metro Centre (positioned just east of the offering) hosts The Peoria Farmers Market at the 440-foot pavilion included in the subject offering, drawing an expanded customer base to the center. The Peoria Farmers Market was founded in 1977 to promote healthy eating and connect consumers with local farmers.
• DOMINANT GROCERY SHADOW ANCHOR The subject offering is shadow anchored by a traffic-driving Schnucks that receives over 655,500 annual visits (Placer.ai). Schnucks is one of the largest privately held grocery store chains in the United States with 2023 sales exceeding $3.2 billion and operates 110 stores in four states throughout the Midwest. In 2023, Schnucks was selected, as one of the “America’s Best Managed Companies” sponsored by Deloitte Private and The Wallstreet Journal. Schnucks has operated at this location for 25 years and recently signed a 10-year renewal, furthering its commitment to this location (separately owned by Sentinel Net Lease).

Description:

Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 100% fee simple interest in 4712 North University Street, Peoria, IL. The offering represents an opportunity to acquire a two-tenant outlot building occupied by Noodles & Company and Dog Haus positioned next to Metro Centre, a historic community shopping center.

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