CBRE, as exclusive advisor, presents the opportunity to acquire a 60,800-square-foot Academy Sports + Outdoors in Peoria, Illinois’ premier Grand Prairie Plaza retail corridor. The property is fully leased to Academy, Ltd. under a 15-year NN lease executed in 2023, with approximately 12 years remaining through July 2038. The lease features scheduled rent increases every five years, including a 2028 increase to $723,520 annually, and three 5-year renewal options extending potential occupancy through 2053.
Academy Sports + Outdoors, a leading sporting goods retailer with more than 300 stores nationwide and a BB+ credit rating, provides stable cash flow under a largely passive ownership structure with limited landlord responsibilities.
The property is located within Peoria’s dominant retail hub, surrounded by over one million square feet of retail and national tenants including HyVee, Dick’s Sporting Goods, HomeGoods, Marshalls, DSW, and Old Navy. It also benefits from co-anchoring with a top-performing HyVee that attracts more than 1.2 million annual visitors.
Less than one mile away, the upscale Louisville Slugger Sports Complex, a 12-field tournament destination that attracts teams and visitors from across the United States and Canada, draws over 600,000 visitors annually, further supporting consumer traffic. As Central Illinois’ regional retail hub, Peoria offers a diverse economy, broad trade area, and strong long-term retail fundamentals.
The property is further supported by a major VA outpatient clinic located directly across the street and the 200-acre OSF HealthCare campus just one mile away. The surrounding retail corridor encompasses more than 1 million square feet of retail space and draws approximately 1.7 million consumers from a 30-county trade area, reinforcing the site’s position within one of Central Illinois’ leading retail and healthcare hubs.