Melrose Park, IL - Advance Auto Parts

Description:

• The tenant, Advance Auto Parts, has over 6 years remaining on its lease with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 7.5 to 10% rental increases at the beginning of each option period, hedging against inflation

• Located along W. North Avenue (50,800 VPD) with nearby off ramp access from Interstate 294 (171,400 VPD)
• Situated within the Melrose Park Center, featuring a Food 4 Less, Starbucks, Dave’s Hot Chicken, and Fifth Third Bank (1.6M+ annual visits -per Placer.ai)
• Nearby national retailers on W. North Avenue include Costco, Target, Sam’s Club, and Home Depot, further increasing consumer traffic to the area
• Located in a dense industrial corridor with 13.9 million+ SF of building within 1 mile, occupied by tenants such as Amazon, Albertsons, and Jewel-Osco
• Near the recently constructed Bridge Point at Melrose Park industrial park, encompassing 1.5 million+ SF of Class A industrial space