700 Broadway Ave E, Mattoon, IL 61938

This property presents an opportunity to acquire a fee simple interest in a new, long-term corporate lease with Valvoline in Mattoon, Illinois. The corporately guaranteed lease features a firm 15-year term with options, including 10% increases every 5 years during the initial term and option periods. Structured as a ground lease, Valvoline is responsible for all maintenance, repairs, and replacements. The new prototypical facility is located adjacent to Dunkin Donuts and directly in front of the Cross County Mall, a regional shopping center with Rural King, Dunham’s, Marshall’s, and Joann. Mattoon is the primary retail and service destination in the Mattoon-Charleston Micropolitan Statistical Area, which has a trade area population of 101,319. Lincoln Land of Sports, a $60 million, 150-acre indoor and outdoor regional sports complex, is opening directly east of Valvoline and estimated to draw 580,000 new customers to the market and add over $23 million in new direct spending. Mattoon is situated roughly half-way between Chicago and St. Louis and is home to Lake Land College. Both Mattoon and Charleston are principal cities of the Charleston–Mattoon Micropolitan Statistical Area, with a population of 101,319. Rural King has its headquarters located on the west side of town off of Dewitt Avenue. Consolidated Communications is headquartered on Charleston Avenue, as well First Mid Bank & Trust, which has several important corporate facilities in the area. Other manufacturing plants include a Bimbo Bakeries USA plant, Mars, Incorporated Pet Food, and Justrite. Lincoln Land of Sports is opening at the I-57 interchange in Mattoon.