Thunderbird Commerce Park | 8 Building Flex Park — Sale in East Peoria, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: East Peoria, IL 61611
  • Year built: 1997

Photos

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Investment Figures

Cap rate
7.41%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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 (~37% below the submarket average of $8.00 NNN). The park is 66% leased on a NNN basis. With a 2.55-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 c

Market Context

This office in East Peoria, IL is listed for sale. It is offered at an approximate 7.4% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1997. Compare it against other office listings for sale in East Peoria, IL — view the full market.

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