Retail

Stony Creek Promenade

4830 W. 111th Street, Oak Lawn, IL, 60453, US

Stony Creek Promenade_Property for Sale

Gallery

Stony Creek Promenade 2_Property for Sale

Asset description

Jones Lang LaSalle Americas (Illinois), L.P. ("JLL") has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Stony Creek Promenade – a grocery anchored neighborhood center in a high barrier to entry location within the Chicago MSA.


This Property is anchored by category leading anchor tenancy that includes Mariano’s (KR – Baa2), TJ Maxx (TJX – A2), and HomeGoods (TJX – A2) and is supported by dominant regional and national restaurant and service users. Stony Creek Promenade is a unique opportunity to acquire a stable income stream anchored by market dominant tenancy, while providing investors with exit flexibility due to the 8 stand alone buildings.

Attributes

Building area gross
165,999 sf
Occupancy
100.00%
Year built
2015

Investment highlights

  • Dominant Mariano's Grocer 
    • #1 Most Trafficked Mariano’s in the Chain
    • Top 3% of Most Trafficked Grocers Nationwide
  • Ideal Tenant Mix & Revenue Diversification 
    • Total Revenue Composition: 62% Investment Grade Tenancy (46% Grocery & 16% Soft Goods/Apparel), 29% Food/Beverage, 9% Service 
  • Minimal Capital Expenditures 
    • 2014/2015 construction with all roofs under warranty
  • 8.5 Year Walt
  • Dense Trade Area With Regional Draw 
    • 141,474 residents within a 3-mile radius
    • Avg HHI: $102,108
    • Top 8% of most trafficked community shopping centers nationwide
  • 8 Separate Buildings Provide Exit Flexibility
    •  Advantageous for investors and provides arbitrage opportunities through single transaction spin downs
    • Uniquely includes 3 high quality single tenant outparcels


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Last updated
Nov 30, 2022