Acquisition Date: November 2019. Disposition Date: June 2022
The Shops on Sterling is a three tenant retail development breaking ground in 2020 leased to Mission Barbeque and Supplement Superstore with an endcap position currently available for lease. The development is located along the busy retail corridor of Sterling Avenue in Peoria, Illinois. Nearby tenants include Target, Lowe’s, Ross Dress For Less, Best Buy, Binny’s, Portillo’s, Chipotle, and many more.
The Peoria market has strong demographics with over 122,000 residents and over $72,000 in average household income within a five-mile radius of the property. Peoria boasts an overall metropolitan population of over 373,000 people making it the largest metropolitan area in Illinois outside of Metro-East St. Louis and Chicago. Peoria is home to large corporations including Caterpillar, Advanced Technology Centers, UnityPoint Health, and OSF St. Francis providing a stable, affluent population base.