Long Term Lease Extensions – OneMain Financial (10 Years) & Verizon (5 Years)
– Anchored by Verizon and OneMain Financial, both of which are national, well-established brands with strong reputations and proven long-term occupancy at the property.
– Verizon has been a tenant since 2005 and exercised a 5-year extension in 2023, ensuring stability through at least 2028.
• Verizon Wireless currently holds an investment grade credit rating (BBB+) from Standard and Poor’s.
– OneMain Financial has been at the property since 2007 and also exercised a 10-year extension in 2023, ensuring its presence until at least 2033.
• One Main Holdings, Incorporated is one of the leading personal finance companies in the United States with more than 1,800 locations.
Outparcel to Brand New Redevelopment with Ross Dress for Less, Marshalls, and Five Below
– East Court Village is a 405,000-square foot shopping center with numerous national tenants.
– Ross Dress for Less, Marshalls, and Five Below are currently under construction and opening in the fall of 2025.
– Tenants already within the center include: Hobby Lobby, Tractor Supply, Aldi, Starbucks, Petco, and more.
Fully Occupied Center with 90% National Retailers
– This center is fully occupied by two national tenants and a local tenant.
– The two national tenants operate under net Leases, reimbursing landlord for CAM, Taxes, Insurance and Management Fee, while the local tenant is on a gross lease, providing potential upside in the future for another landlord.
Pekin is Located Within the Peoria MSA
– The Peoria metropolitan area is the third largest metro area in Illinois with a population of more than 379,000 and a trade area of 750,000.
– Peoria is the largest city on the Illinois River and the principal city of the Peoria metropolitan area, consisting of five counties, including Marshall, Peoria, Stark, Tazewell, and Woodford.
