Springfield, IL - SiteOne Landscape Supply

Description:

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN+ leased, SiteOne Landscape Supply (NYSE: SITE) investment property located in Springfield, Illinois. The tenant, SiteOne Landscape Supply recently exercised their first option to extend, providing over 4 years of term remaining with 1 (5-year) option to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term each option period, steadily growing NOI and hedging against inflation. The lease is NN+ with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The subject property is located near the intersection of Interstate 72 and South Veterans Parkway which combine to average over 73,500 vehicles passing by
daily. South Veterans Parkway is the major retail thoroughfare serving the city of Springfield. The asset is located in close proximity to a Parkway Pointe, a Walmart Supercenter and Target anchored center that also features national/credit tenants such as ALDI, McDonald’s, Starbucks, Portillo’s, Crumbl, T-Mobile, and more. In addition, the site is less than 2 miles from Southwest Plaza, an Academy and Best Buy anchored center with other tenants including PetSmart, Barnes & Noble, Old Navy, Mattress Firm, and Raising Cane’s. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s, Menards, Meijer, Sam’s Club, Chick-fil-A, Chipotle, and more, further increasing consumer traffic to the site. The immediate trade area is supported by a population of over 90,400 residents and 69,600 employees with an average household income of $131,894 within 1 mile.

---

Report Listing This listing was syndicated through:

Listing ID: a28TP000002CfKnYAK