Regency Plaza_Property for Sale
Regency Plaza_Property for Sale
720 West Euclid Avenue, Palatine, IL, 60067, US

Regency Plaza

Asset Description

ADDRESS

700 - 790 W. EUCLID AVE, PALATINE, IL 60067


PROPERTY SIZE

127,973 SF / 14.0 ACRES


# OF TAX PARCELS

2


PARKING SPACES / RATIO

440 | 3.4


VACANT SUITES

14


SUB-1,500 SF VACANCIES

6


1,500 SF - 7,500 SF VACANCIES

7


30,000+ SF VACANCIES

1


YEAR 1 NOI

$449,678


STABILIZED NOI

$1,730,231


5-YEAR NOI GROWTH

295%


5-YEAR NOI CAGR

31.6%

...

Attributes

Year built
2000
Occupancy
48%
Number of buildings
2
WALT
5.6 years

Media

Investment Highlights

MULTIPLE VALUE CREATION OPPORTUNITES

48% OCCUPIED

  • Over 66,000 SF of vacant GLA across 14 suites


OPPORTUNITY TO LEASE ANCHOR VACANCY TO GROCER

  • Former Dominick’s suite has received LOI interest from a national grocery brand and an ethnic grocer over the last 6 months


POTENTIAL TO BIFURCATE

  • Fifth Third Bank on separate tax parcel creates spin-off opportunity at accretive cap rate


STRONG LEASING MOMENTUM I 3 NEW LEASES ACROSS 26,632 SF

DOLLAR TREE (BAA2) OPENED IN 2023 AND REPRESENTS 8% OF INCOME


NEW TRUE VALUE LEASE WITH CORPORATE BACKING

  • Formerly leased to franchisee
  • 1,350 SF suite increase
  • Joyce’s Driving School relocated to accommodate expansion, showcasing each tenants’ commitment to the asset


STRONG TENANT LINEUP WITH LARGELY NATIONAL TENANCY

89% OF OCCUPIED GLA AND 86% OF INCOME DERIVED FROM NATIONAL BRANDS


CURRENT OWNERSHIP’S COMMITMENT TO THE ASSET

RECENT IMPROVEMENTS TO THE CENTER INCLUDE BUT ARE NOT LIMITED TO REMODELING SUITES, REPLACEMENT OF HVAC SYSTEMS, TUCKPOINTING, AND MASONRY WORK

Regency Plaza 4_Property for Sale
Regency Plaza 4_Property for Sale

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Regency Plaza (0 Properties)

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Last updated
11 Oct 2024