Full Description
Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, investment grade, CSL Plasma investment property located in Champaign, IL. The tenant, CSL Plasma, Inc., has over 10 years of firm term remaining with 2 (5-year) option periods left to extend. The lease features 10% rental increases every 5 years throughout the initial term and FMV rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (S&P: A-) and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The offering also includes an on-site billboard, providing an additional source of income for the property (see rent roll). CSL Plasma, a division of CSL Behring, is a leader in plasma collection with over 270 centers across 30 countries.
Location
CSL Plasma is strategically located at the signalized, hard corner intersection of W. Kirby Avenue and S. State Street, averaging a combined 22,000 vehicles passing by daily. The asset benefits from nearby access onto Interstate 57, 72, and 74, making this an ideal and centralized location with easy commutes for both employees and patients. The site is ideally situated within a dense retail corridor and is within proximity to Baytowne Square (94,585 SF), Pinetree Plaza (111,720 SF), Market Place Shopping Center (963,173 SF), and other major shopping centers. The surrounding national/credit tenants include Walmart Supercenter, ALDI, The Home Depot, Target, PetSmart, Schnucks, and others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, the site is within walking distance to the University of Illinois Urbana-Champaign, a nationally recognized public university with over 33,600 students enrolled. Furthermore, CSL Plasma is within proximity to numerous single-family communities and multi-family complexes including The Village (100 units), Eden Supportive Living (150 units), Hessel on the Park (285 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 151,400 residents and 92,500 daytime employees, with an average annual household income of $72,791.