Hy-Vee Shopping Center

Peru, IL     |     50 Acres    |     Investment, Development

A 50-acre signed zoned commercial in a TIF district was targeted for retail development. Hy-Vee grocery, a potential anchor, was interested in buying land for their own store.

A sale to Hy-Vee with a reciprocal easement for development of the entire 50-acres was negotiated. The land plan included outlots and covenants on height, density and architectural details were negotiated. Hy-Vee opened a 65,000 SF store; four outlots were sold; and a 23,000 SF multi-tenant building was leased and sold.