100% Leased Multi-Tenant Retail Center – Strong Mix of National/Regional Retailers – End Cap Drive-Thru Lane & Outdoor Patio Seating – The property consists of a 15,940-square-foot retail building that sits on an approximately 1.782-acre parcel that features a drive-thru lane and outdoor patio seating on the Dunkin Donuts end cap. The Beloit Shops is 100% leased to an attractive mix of national and regional credit tenants including Cricket Wireless, GameStop, Firehouse Subs, Little Mexico Restaurant, Check N’ Go, US Nails, Pinnon Meats, Shopko Optical, and Dunkin Donuts.
Tight Retail Submarket (4.7% Retail Vacancy Rate) – Passive NNN Leases with Staggered Lease Expirations & Consistent Annual Rent Growth – The retail submarket where the property resides has always been a tight retail market (4.7% retail vacancy rate*) and in high demand with retail tenants. The current rent roll ideally provides for both staggered lease expirations and steady rent growth with annual rent increases of 2.5% – 3%. (*Source: CoStar Property Group)
Outparcel to Beloit Shopping Center, Anchored by Walmart and Menards – Adjacent Hotels Provide Foot Traffic to Site – Strong Draw to Trade Area – Beloit Shops is strategically located within the Beloit Shopping Center as an outparcel to successful anchor tenants Walmart and Menards, as well as strong co-tenants including Starbucks, McDonald’s, Burger King, U.S. Cellular, and Speedway, providing a consistent flow of traffic into and around the Beloit Shops. Additionally, the shops are across from several hotels such as Hampton Inn, Fairfield Inn & Suites, Super 8, Baymont by Wyndham, and Holiday Inn Express, providing outstanding retail synergy and a strong draw to the trade area.
Strategic Location on Milwaukee Rd/SR-81 – Major Travel Corridor from Interstate 90 to/from Downtown Beloit – Excellent Visibility & Signage, Multiple Entrances – The property is just minutes away from Amazon’s new $100M and 1.1M square foot fulfillment facility recently constructed in East Beloit. This facility adds 500 new full-time jobs helping to boost an already strong local economy.
Strategic Location on Milwaukee Rd/SR-81 – Major Travel Corridor from Interstate 90 to/from Downtown Beloit – Excellent Visibility & Signage, Multiple Entrances – The subject property is strategically located along SR-81/Milwaukee Rd, near the intersection of Cranston Rd. Milwaukee Rd/SR-81 is the major commuter corridor in/out of Beloit from Interstate 90, and offers excellent visibility to 24,000+ cars per day and multiple entrances into the center.
Half Mile from On/Off Ramp to Interstates 90/43 | New Overpass & On/Off Ramp Construction – Improved Access to Subject Property – Quick Access to Nearby Janesville, Rockford IL – The center is just a half mile from the on/off ramp to Interstate 90 at the interchange with Interstate 43, offering quick access to downtown Janesville 13 miles to the north, and Rockford, IL just 20 miles to the south. This interchange is currently under construction with improvements to the on/off ramps as well as new and improved overpass throughways, which will improve traffic flow and benefit the center as an easy on/off destination for travelers.