Available $13,573,897 - Retail – Multi Tenant
Investment Offering & Highlights
- 100% LEASED RETAIL POWER CENTER
Anchored by Hobby Lobby, Ross & PetSmart
- CORPORATE-BACKED LEASE GUARANTEES
National tenants account for over 91% of the center’s income stream
- EXCELLENT EXPOSURE ALONG JOHN DEERE ROAD
Major traffic artery with over 30,600 vehicles
- FIVE MINUTES FROM WORLD HEADQUARTERS FOR DEERE & COMPANY
Fortune 500 Company with over 7,600 employees
- TEN MINUTE DRIVE FROM QUAD CITIES INTERNATIONAL AIRPORT
Over 670,000 passengers and visitors annually
- DENSELY POPULATED AREA
Over 126,000 residents within a 5 mile radius
Moline Town Center is a 95,909 square foot four-tenant power center that was recently redeveloped in 2013. The subject property is 100% leased to Hobby Lobby, Ross, PetSmart and 21st Century Dental. National tenants with corporate-backed leases account for over 91% of the center’s income stream.
The property is shadow anchored by Riverplace Centre, a 237,000 square foot power center anchored by Target, Kohl’s and Hy-Vee. Moline Town Center is also positioned directly across from Trinity Medical Center, a 38-bed inpatient cancer center and birth place. Southpark Mall, located less than a mile east of Moline Town Center, is an 863,000 square foot regional mall anchored by JC Penney, Dillard’s, Dick’s Sporting Goods and Younkers. Additionally, the property is less than a ten minute drive north of Quad City International Airport, which serves nearly 670,000 passengers and visitors annually and contributes over $857 million to the local economy. The property features excellent exposure along John Deere Road, one of the area’s main traffic arteries with daily traffic counts in excess of 30,600 vehicles.
This densely populated area is home to over 126,000 residents within a five mile radius and 213,000 residents within a seven mile radius. As part of the Quad Cities MSA, the area has experienced a 56% increase in economic strength in the past decade. The property is less than a five minute drive from the world headquarters for Deere & Company, a Fortune 500 company with over 7,600 employees.
- Price: $13,573,897
- Cap Rate: 7.50%
- Building Size: 95,909 SF
- Year Built: 2014
- Status: Available