Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Perryville Square, a 15,916 SF, 100% occupied, 7-unit retail center investment property located in Rockford, IL. The center features a strong lineup of e-commerce resistant food, service, and health-based tenants including Meg’s Daily Grind, Bella Salon, Summit Radiology, Camelot Radiology, and others. The strong regional tenant lineup increases the interest of the site and drives a steady stream of loyal, local consumers. Additionally, Meg’s Daily Grind is equipped with an end-cap drive-thru lane, which provides ease and convenience for customers. The offering includes an additional 2.54 acres of land, providing an excellent value add opportunity in a well-established and diversified market.

Perryville Square is strategically located near the signalized, hard corner intersection of Perryville Road and Riverside Boulevard, averaging a combined 78,600 vehicles passing by daily. The asset benefits from nearby access onto Interstate 90 (50,500 VPD), providing direct access into Downtown Chicago and Downtown Madison. Perryville Square is ideally situated within a dense trade area with numerous nearby national/credit tenants including Costco Wholesale, Woodman’s Food Market, McDonald’s, Meijer, Walgreens, Walmart Supercenter, and others. The strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The property is within direct proximity to Javon Bea Hospital and Swedish American Creekside Medical Center, 2 well-established medical facilities dedicated to providing world-class care. In addition, the subject is just under 2 miles from Rock Valley College (RVC), a 2-year community college offering more than 100 courses with over 5,700 students enrolled. Furthermore, the asset is near numerous single-family communities and multi-family complexes including Greencastle Munford (115 units), Forest Glen Apartments (140 units), Rock Valley Apartments (208 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 105,000 residents and 65,100 daytime employees. Residents within 1-, 3-, and 5-miles of the site boast an affluent average household income of $113,059, $108,380, and $97,079, respectively.

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