Barrington Square Town Center

Highlights:

• 101,769 SF stabilized neighborhood shopping center with a history of strong occupancy
• Many long-term tenants, all on NNN leases with internet-proof businesses
• Weighted Average Lease Term (WALT) of 10.82 years
• Over $7 million recently deployed on infrastructure improvements, including a new façade, landscaping, curbing, detention, all new HVAC, LED lights, and new roof
• Upside available via two currently vacant spaces totaling 5,022 SF, and below-market rents on several existing tenants
• Highly visible pylon signage
• Adjacent to several office parks, quality retailers and the Ascension Amita Health Medical Center campus
• Great outlot co-tenancy featuring newly developed McDonald’s, 7-Eleven, Popeyes, and Buona Beef prototypes
• Located on high-traffic Higgins Road with a daily vehicle count over 30,000
• 1⁄4 mile from I-90 full interchange at Barrington Road
• Adjacent to the planned “Grand Reserve of Hoffman Estates”, a 330-unit luxury apartment development, and across from the 300-unit “Seasons of Hoffman Estates” apartments
• Property has been expertly managed and improved over time
• 52,905 SF outlot also available
• Priced well below replacement cost

Description:

SVN Chicago Commercial is pleased to present Barrington Square Town Center in conveniently located Hoffman Estates, IL. This well-maintained, 101,769 SF neighborhood shopping center, sitting on an 11.01-acre site, is well-positioned with “Internet-proof” businesses, which speaks to the stability of the property’s cash flow. Many long-term tenants occupy the shopping center, including Advance Pre-School, Garibaldi’s Restaurant, Gigi’s Playhouse, and Poplar Creek Bowl, which recently expanded their space and invested over $2 million in improvements, including a large catering facility. Newer tenants, Kritunga Indian Restaurant and the 9,000 SF Playroom Cafe Social, have rounded out an impressive tenant mix.

Barrington Square is strategically positioned adjacent to several office parks, other high-quality retailers and restaurants, and is immediately across from the massive Ascension Amita Health St. Alexius Medical Center campus, which hosts over 3,000 employees. It also boasts new prototype McDonald’s, 7-Eleven, Buona Beef, and Popeye’s prototypes on the adjacent outlots. Barrington Square has benefited from long-term, hands-on ownership, which has recently made massive improvements to the property, including a new façade, landscaping, curbing, storm water detention, LED lighting, and parking surfaces, to name a few.

Additionally, the Village of Hoffman Estates has designated the area around Barrington Square for thousands of new residential units, including the existing 300-unit “Seasons of Hoffman Estates”, directly across from the property, and a planned 330-unit development - “Grand Reserve of Hoffman Estates” - immediately adjacent to the property. This opportunity will also provide a new owner upside due to two updated vacant spaces totaling approximately 5,022 SF. Several long-term tenants are also paying below-market rental rates. An additional out-lot land site of 52,905 SF is also available for purchase. The property is being offered at $9,375000, which is an 8.9% CAP rate on Scheduled Income.

Hoffman Estates is part of Chicagoland's dynamic Schaumburg/Northwest Suburban sub-market. Barrington Square, located on busy Higgins Rd just east of Barrington Rd, is well positioned in a densely populated neighborhood, and is near or adjacent to many daytime and night time traffic generators including hotels, restaurants, office parks, the 300-unit "Seasons of Hoffman Estates" apartments, great outlot co-tenancy which includes McDonald's, 7-11, Buona Beef and Popeye's and the massive AMITA St. Alexius Medical Center directly across from the property.

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