Danada Square West_Property for Sale
Danada Square West_Property for Sale
30 Danada Square West, Wheaton, IL, 60189, US

Danada Square West

Asset Description

JLL Capital Markets has been retained as exclusive advisor for the sale of Danada Square West, a 314,819 SF, 92.31% leased grocery anchored shopping center in Wheaton, IL. The Asset is anchored by a high-performing Jewel-Osco, a market dominant grocer with a sub 2.0% occupancy cost. Jewel-Osco has been at the asset for over 35 years and ranks in the top 5% of grocery store visits both nationally and in the state of Illinois. Similarly, junior anchors TJ Maxx and HomeGoods (TJX: Moody’s A2) provide additional security in the income stream. Both TJ Maxx and HomeGoods recently extended for 10 and 7 years, respectively, proving commitment to the asset longterm. Together, Jewel-Osco, TJ Maxx, and HomeGoods account for over 30% of the Property’s gross income. Other prominent retailers include Burlington, The Paper Store, Ulta, and Five Below.


Located at the intersection of Butterfield Road (VPD: 26,800) and S Naperville Road (VPD: 17,100), Danada Square West is in a prime, institutionally owned retail corridor that draws over 8M visits nationally. Danada Square West benefits from synergistic consumer demand from Danada Square East, Rice Lake Square, and Town Square Wheaton which features national tenancy such as Whole Foods, Nordstrom Rack, Sierra Trading Post, Pete’s Fresh Market, PetSmart, OrangeTheory, Salon Lofts, and many more. Danada Square West’s location at a premier intersection with affluent surrounding demographics, market dominant anchor tenancy, and location within low-tax DuPage County has led to rapid leasing momentum over the past 12 months, with current ownership executing five (5) new leases across over 40,000 sf.

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Attributes

NOI
PLN 18,241,000
Building area net
29,248 m²
Occupancy
92%
WALT
5.7 years
Parking spaces
1,570

Media

Investment Highlights

Dominant Grocery Anchor

  • $47M Trailing-12 Month Sales
  • Sub 2% Occupancy Cost
  • +$5.176M Store Level EBITA in 2023
  • +35 Year Operating History


Value-Add Opportunities Through Leasing and Parcelization Strategies

  • 23,672 SF of available suites across 8 suites
  • Ability to convert 21,457 SF of gross leases to NNN upon expiration
  • Mark-to-Market Leasing Opportunities
  • Ability to sell seperate buildings at a profitable cap rate arbitrage


Secure and Accretive Cash Flow

  • WALT: 5.7
  • Weighted Average Tenure: 24.4 Years


Rapid Leasing Momentum With National Retailers

  • Ownership has recently executed seven leases across +100k sf (32% of GLA)


Generational Buying Opportunity

  • Ownership has recently executed eight (8) leases across 100k SF


Regionally Dominant Center With unmatched Frontage/Visibility

  • Over 3.1M Annual Visitors
Danada Square West 4_Property for Sale
Danada Square West 4_Property for Sale

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Danada Square West (0 Properties)

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Last updated
9 Jul 2024