Thunderbird Commerce Park FOR SALE


East Peoria, IL
$8,750,000 USD
317-437-6544
, East Peoria, IL for Sale
$8,750,000 USD
FOR SALE
1/10
null | 7.65% Cap Rate

Thunderbird Commerce Park
East Peoria, IL


HIGHLIGHTS

  • Opportunity for Stable Income with Staggered Leases & Mark-to-Market Upside
  • 154,000 SF GLA | Core-Plus Small/Mid-Bay Flex Industrial Park
  • Historically High Occupancy | 99% Occupied
  • 2.35-Year WALT | Mark-to-Market Rent Growth Potential
  • In-Place Rents 36% Below Market
  • Excellent Regional Connectivity via I-74, US-150 & US-24

OVERVIEW

Marcus & Millichap is pleased to exclusively represent for sale Thunderbird Commerce Park, an eight-building small/mid-bay industrial park located at 125 Thunderbird Lane in East Peoria, Illinois. The park consists of ~146,214 SF RBA situated on 12.32 acres. Historically high long-term occupancy (99% occupied) with 9 tenants in-place for 10+ years (47% RBA). Thunderbird Commerce Park is leased to 30 tenants across 36 suites and features a diversified mix of local, regional, and national users. The park is anchored by publicly traded and credit tenants, including Ferguson (NYSE: FERG; S&P: BBB+), SiteOne Landscape Supply (NYSE: SITE; S&P: BB), Water Solutions Unlimited (NASDAQ: HWKN) and NuMotion (Moody’s: B3). The property offers immediate cash flow and significant upside, with in-place rents averaging $5.06/SF (~36% below the submarket average of $8.00 NNN). The park is 74% leased on a NNN basis. With a 2.35-year WALT and staggered lease expirations, investors can gradually mark rents to market while limiting rollover risk. Additional upside exists through the conversion of remaining leases to NNN and the ability to develop a building up to 12,000 SF on the remaining undeveloped lot or utilize it for IOS/laydown yard use. Located just 1.5 miles from I-74 (59,300 VPD) and 0.5 mile from the US-150 and US-24 interchange (30,800 VPD), Thunderbird Commerce Park benefits from exceptional accessibility throughout Central Illinois and the Midwest, with ~80% of the U.S. population within a two-day drive. The East Peoria industrial submarket has no vacancy (CoStar, July 2026). The area is supported by major employers including Caterpillar, Komatsu, Carle Health, OSF HealthCare, and manufacturing and logistics firms. Thunderbird Commerce Park is positioned in a supply-constrained industrial market with strong occupancy fundamentals, diversified tenancy, and multiple avenues for income growth. Thunderbird Commerce Park presents investors with a rare opportunity to acquire a core plus industrial park with durable cash flow and long-term upside.

ASK ABOUT THIS PROPERTY

Julia EvingerMarcus & MillichapMore Info
317-437-6544

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Julia EvingerMarcus & MillichapMore Info
317-437-6544

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.