Retail
Under Contract

Geneva Commons - Geneva, IL

718 Commons Dr, Geneva, IL, 60134-2541, US

Geneva Commons - Geneva, IL_Property for Sale

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Geneva Commons - Geneva, IL 2_Property for Sale

Asset description

Shoppes at Geneva Commons is a 100% occupied, 132,686 square foot grocery anchored center in the affluent Western Chicago Suburb of Geneva, IL. The center is comprised of five (5) national tenants including HomeGoods (A2, NYSE: TJX), Jo-Ann (NYSE: JAS), DSW (NYSE: DBI), The Fresh Market, and Binny’s.


Shoppes at Geneva Commons is located in the heart of a 6.2 million SF three-mile shopping corridor and benefits from its strategic location adjacent to the Geneva Commons, a 420,000 SF open-air lifestyle center boasting over 70 high end retailers. The combined site is the #1 most-trafficked Shopping Center in a 15-mile radius, with 4.7M annual visitors and features a unique combination of grocery, food & beverage, discount, apparel, beauty, home and other retail concepts.


Fresh Market and Binny’s together serve as a dominant grocer and beverage provider for the a 15 mile radius with no nearby competition. The Shoppes at Geneva Commons presents a unique opportunity to acquire a grocery anchored offering with credit tenancy and lease term providing attractive income stability.

Attributes

Building area Net
120,000 sf
Occupancy
100.00%
Year built
2003

Investment highlights

100% National Tenancy

  • 100% National Tenancy
  • 35% Grocer + Liquor Tenancy
  • Respective Chains Closest Stores Are Over 15 Miles Away

Dominant Regional Destination 

  • 4.7M annual visits between Shoppes at Geneva Commons and Geneva Commons
  • Together the site serves as the #1 Most trafficked shopping center in a 15-mile radius and ranked in the top 5% of highest trafficked shopping centers nationwide
  • 72 retailers at Geneva Commons

The Perfect Pair: Synergistic Grocery + Liquor Anchors

  • Fresh Market has 18 Years of Operating History and Term through 2030
  • 7+ Years of term with two 5-year options thereafter
  • The addition of Binny’s Beverage Depot in 2020 boosted traffic to The Fresh Market by 30% MoM in Binny’s opening month
  • Binny’s, Chicagoland’s dominant operator with over 45 stores, signed a new 15 year lease in 2020
  • #1 most trafficked Binny’s in a 15-mile radius (1/5)


Geneva Commons - Geneva, IL 4_Property for Sale
Geneva Commons - Geneva, IL 4_Property for Sale

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Last updated
Sep 16, 2022