6125 State St Rockford, IL 61108

Property Details for 6125 State St

Lot size

50.31 lot acres

Property size

439,471 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Forest Plaza, located at 6125 E State St, Rockford, IL 61108, presents a compelling investment opportunity in a thriving retail market. This 439,471 square foot shopping center sits on a 50.31-acre lot and boasts a remarkable 98.1% occupancy rate. The property features a diverse mix of national tenants including Kohl's, Petco, Dick's Sporting Goods, Michaels, Marshalls, Binny's, Old Navy, and others, demonstrating strong tenant retention with over 52% of the gross leasable area (GLA) occupied for more than 15 years and 47% for over 20 years. Recent leasing momentum is evident with several new additions in 2023 and 2024, including Sierra, Aaron's, The Buckle, and European Wax Center. High-performing tenants contribute to strong sales figures, with several exceeding $2.9 million in annual sales. The center benefits from exceptional Placer.ai rankings for its tenants within Illinois and nationally, reflecting its strong performance and desirability. Situated in the heart of Rockford's State Street retail corridor, Forest Plaza benefits from its location in a dynamic market. Rockford is experiencing significant growth, recently ranked the #1 housing market in the United States and the #10 city with the lowest cost of living. The city's expanding economy, fueled by recent investments in infrastructure and major employers like General Mills and Walmart, further enhances the property's long-term potential. This value-add investment opportunity offers a rare chance to acquire a premier super-regional retail destination in a rapidly growing market. The property's strong tenant lineup, high occupancy, and prime location make it an attractive asset for discerning investors.

Location Insight

City

Rockford

County

Winnebago

State

Illinois

Longitude

-88.9971

Latitude

42.2655