Property Name

Sullivan's Foods - Kewanee, IL

GLA 36,236 SF

Property Description

SHOP Companies has been exclusively retained to offer for sale this free-standing Sullivan’s Foods grocery store with Fuel Pumps in northern Illinois. The property is subject to a new, 15-year absolute net lease to Associated Wholesale Grocers (AWG) and sublet for the entire term of the lease to J.B. Sullivan’s. The store benefits from low rent ($5.05 psf), strong sales, and low rent-sales ratio. Sullivan’s Foods is excellently positioned off US Hwy 34, the main thoroughfare through Kewanee, and near many national retailers including Walmart Supercenter, Taco Bell, Burger King, McDonald’s, Dollar Tree, Dollar General, Menards and more.

In June 2023, Coborn’s (MN) acquired the J.B. Sullivan chain of grocery stores, which they plan to continue to operate under the Sullivan’s name. With the acquisition of Sullivan’s Foods, Coborn’s now operates 77 grocery stores and a total of 135 business units, including liquor stores, fuel centers, dry-cleaners, pharmacies, and franchised restaurants. Coborn’s grocery banners now include Sullivan's Foods, Cash Wise Foods, Marketplace Foods, Hornbacher’s, and Tadych’s Marketplace Foods.

Associated Wholesale Grocers, Inc. (AWG) serves 1,100 member companies and over 3,400 locations throughout 31 states. Net sales for 2022 exceeded
$12.3 billion. The offering represents a rare opportunity to own an AWG-leased grocery store with brand-new terms, priced well below replacement costs.