August 30, 2023 – Zach Smith of Horvath & Tremblay has successfully completed the sale of a two-tenant building leased to Sherwin Williams & Hertz in Champaign, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,420,000.
The property is located at 707-709 N Mattis Avenue in Champaign, Illinois. The two-tenant plaza is improved by Sherwin Williams and Hertz and contains 9,000 square feet on 0.91-acres of land. Sherwin Williams has 1+ years remaining on the double net lease with one (1), 5-Year renewal option. Hertz has 2 years remaining on their double net lease with two (2), 3-year renewal options. Both leases call for attractive rent increases at the start of each renewal option providing the investor with an attractive increase in revenue and a hedge against inflation. The Property is well located along N Mattis Avenue, one of the area’s primary commercial corridors, and is positioned across N Mattis Avenue from Kraft-Heinz’s 1.2M SF manufacturing facility and 430,000 SF distribution center. The area is home to countless national retailers that drive traffic to the area and enjoys convenient access to Interstates 72, 57, and 74. Additionally, the Property is just 1-mile from Parkland College (20,000 students) and is approximately 3-miles from the University of Illinois (56,000 students).
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.