Overview

Description

Randall Square Shops offers the rare opportunity to acquire a high performing neighborhood shopping center shadow-anchored by an outstanding lineup of credit tenants located in the affluent Kane County Chicago suburb of Geneva, Illinois. The offering features a desirable tenant lineup of necessity retailers, fast-casual restaurants, and resilient health and personal services tenants.

Highlights

• INSTITUTIONAL QUALITY ASSET Randall Square Shops features an outstanding line-up of national tenants on long-term leases at the heart of the dominant Randall Road retail corridor in suburban (Kane County) Chicago. The offering features a strong weighted average lease term of nearly 5 years and longstanding retailers, medical users, and personal services providers.
• DOMINANT SHADOW ANCHORS The subject offering is shadow anchored by a remarkable lineup of best-in-class national tenants. Shadow anchors include Nordstrom Rack, Marshalls, Five Below, Ulta Beauty, PetSmart, Ross Dress for Less, and others. The shadow anchors at Randall Square Shops generate more than 1,370,000 annual visits, according to Placer.ai data.
• INTERNET-PROOF INVESTMENT Randall Square Shops is leased to a dynamic mix of national and local tenants with long-term operating performance at the center. 34% of tenants at Randall Square Shops have been operating for more than 20 years and the offering features a median tenant tenure of more than 13.25 years. These tenants, which include health and wellness, fast-casual dining, recreation and entertainment, and personal services, perform well regardless of e-commerce pressures and economic cycles.
• VALUE ADD OPPORTUNITY Randall Square Shops is 87% leased, providing a significant value-add opportunity for an investor to add more than $195,700 in gross income by leasing 6,908 square feet of vacant space resulting in strong compounded annual growth rates.
• AFFLUENT WESTERN CHICAGO SUBURB The offering is located along the highly visible Randall Road retail corridor in the Chicago suburb of Geneva (Kane County), which features an extremely desirable demographic profile. Within five miles of the subject offering, there are 114,440 residents enjoying average household incomes of more than $154,387 and median home values of $354,300.
• LEADING RETAIL TRADE AREA The retail node surrounding Randall Square Shops is home to some of the highest performing retailers in the Chicago area, including the 93rd percentile Dick’s Sporting Goods in the country, the 95th percentile DSW in the country, the 87th percentile Kohl’s in the country, and the 72nd percentile Jewel-Osco in the country, according to Placer. ai data.

Documents

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