The
Boulder Group is pleased to exclusively market for sale a single tenant OfficeMax
property located in East Peoria, Illinois. OfficeMax is committed to this site
as evidenced by their extension of their first five year renewal option period.
The 1.89 acre parcel is located within the Peoria region’s dominant retail
corridor that features regional draws such as Bass Pro Shops, Walmart
Supercenter, and Lowe’s. OfficeMax recently merged with Office Depot to create
a dominant retailer and the largest U.S. office-supplies chain. OfficeMax is
publicly traded on the New York Stock Exchange (ODP) with a market
capitalization in excess of $2.5 billion.
The OfficeMax property is strategically
located along Interstate 74, which experiences traffic counts in excess of
60,000 vehicles per day. There are over 125,000 people living within five miles
of the subject property. The OfficeMax is centrally located within Peoria’s
dominant retail corridor that is anchored by Bass Pro Shops, Walmart
Supercenter, Lowe’s, Costco, Target, Kohl’s and Gordmans. The property is
located in a Walmart Supercenter and Lowe’s anchored development. Other
retailers located in the area include Embassy Suites Hotel and Conference
Center, PetSmart, Ross Dress For Less, Aldi, McDonald’s, Panera, and Buffalo
Wild Wings.
The recently extended OfficeMax lease has approximately 5
years remaining and expires in October 2018. There are three 5-year renewal
options remaining with rental escalations in each. OfficeMax is a publicly
traded company on the New York Stock Exchange (ODP) with a market
capitalization in excess of $2.5 billion.
http://www.bouldergroup.com/Single-Tenant-OfficeMax-For-Sale.pdf