Description

​

Marcus & Millichap is pleased to present a multi-tenant office building in Decatur, Illinois. The property is located on the very busy Pershing Road, a major east/west thoroughfare through north Decatur, with a daily traffic count of about 20,000 vehicles.

The property is comprised of a two-story office building with a finished lower level that is leasable and included in the 27,455 square feet that make up the building. The property includes a six-lane drive-up for the bank and 82 parking spaces. Current occupancy is 73.3 percent, with the top floor currently vacant.

The building is anchored by Regions Bank, the wholly-owned subsidiary of Regions Financial Corporation. The bank occupies the first floor and lower level of the building. The second floor is currently vacant. The first-floor space that is occupied by Vieweg Real Estate has been updated recently. The vacancy rate is historically low on the Pershing Road corridor, only having the space in this building available. The space is available due to the bank downsizing its footprint.

Regions Bank is the anchor tenant of the property and has been in the market for 70 years. They currently have three banking offices in the Decatur market and deposits at this facility are over $64 million. The bank has approximately 1,500 banking offices and 2,000 ATM's. Their Standard & Poor's credit rating is A minus. The corporation is located in Birmingham, Alabama and serves the lower midwest, Texas and the southeast portion of the United States.