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Joliet, IL Overview of Retail For Lease Market | Commercial Main N State
Independent CRE Broker of Village Commercial

Joliet, IL Overview of Retail For Lease Market


Joliet, IL Overview of Retail For Lease Market

Earlier I posted a blog over-viewing the demographics of the City of Joliet, here I will provide a brief overview of the available retail spaces available for lease in Joliet. As a commercial real estate broker representing businesses and landlords in a city, one should have an understanding of the market as a whole, how their property competes in the market and where the main and main is of that city.

 

OVERVIEW

 

426 Retail Properties

6,628,653 square feet of rental space

727,508 square feet currently available for lease

91.4% occupancy rate (8.6% vacant)

Average Asking Rental Rate: $12.72 NNN per square foot

MAJOR ARTERIES

 

Larkin Avenue

19,600 - 29,500 Vehicles Per Day

Asking Rent Range: $14.00 NNN - $16.00 NNN per square foot

 

Jefferson Street

24,600 - 28,300 Vehicles Per Day

Asking Rent Range: $10.00 NNN - $25.00 NNN per square foot

 

Essington Road

19,000 - 22,800 Vehicles Per Day

Asking Rent Range: $7.00 NNN - $26.00 NNN per square foot

 

Brokerage Firms Market Share - Top 5

 

Newmark Grubb Knight Frank - 15.6%

Transwestern - 9.7%

Coldwell Banker Commercial Honig-Bell REALTORS® - 3.3%

CK Realty Group - 3.3%

Century 21 Pro Team - 2.5%

 

Data information is provided from searches on CoStar.com and Loopnet.com June 2014

 

IMG_6331

2947 Jefferson Street, Joliet, IL

 

12,000 SF Retail center; ONE last space available! Anchored by Dunkin Donuts, Baskin Robbins and Verizon Wireless.

 

1,200 SF available

815.954.1749

 

Kristian Lee (84 Posts)

Kristian is a licensed Illinois Commercial Real Estate broker with over 10 years’ experience working with small to medium sized businesses locally and nationally as well as owners of real estate from office, retail to industrial at Suburban Real Estate Services, Inc.. in Lisle, IL. Kristian specializes in branding each property he represents through different marketing tactics, boots on the ground and the latest technologies gained from his experience of marketing rock bands to commercial properties. For each tenant representation assignment he becomes his client's "in-house" broker walking them through the process from initial meeting till occupancy. He is the founder of Commercial Main N State, a blog providing tips and market rental trends to small businesses on #CRE. He currently is the 2014-2016 Chair of the Mainstreet Organization of Realtors® Commercial Alliance.



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