Space Available For Lease 2

Big Hollow Retail Center

Space Type Strip
Lease Rate $15.00/SF/YR
Total Space Available 46,430 SF
Divisible Space 46,430 - 46,430 SF
Available Date Immediate
Lease Type NNN
Renewal Option Yes
Sublease No

Total SF: 46,414sf on 6 acres with 330 surface parking spots - Single tenant/Stand alone building - Built in 2003 for Best Buy - Tenant has the right to a shared shopping center pylon sign - Anchor tenants are Lowes and Target - 2 loading docs, 2 roll up garage doors - Tenant Improvement Allowance may be discussed during lease negotiations

Walker Oglesby

TPG Real Estate Partners

Multi-Tenant Retail Space

Space Type Strip
Lease Rate $16.00/SF/YR
Total Space Available 20,000 SF
Floor 1
Divisible Space 20,000 - 46,000 SF
Available Date Immediate
Lease Type NNN
Renewal Option Yes
Sublease No

This highly flexible retail space presents a rare opportunity to lease either the entire 40,000 SF space or a subdivided 20,000 SF unit. The landlord is prepared to divide the space into two equal units of 20,000 SF each, with each featuring private restrooms and prominent storefronts. A generous tenant improvement (TI) allowance is available for long-term leases. Renovations to accommodate subdivision are estimated to take approximately 5–6 months.

Walker Oglesby

TPG Real Estate Partners

Contacts

Walker Oglesby

TPG Real Estate Partners

Property Details

Property Type Retail - Street Retail
Property Size 20,000 SF
Units 2
Lot Size 5.96 Acre
Property Tenancy Multi-Tenant
Year Built 2003
Date Updated Jul 7, 2025

This property is situated within the Glen Hollow Shopping Center, one of Peoria's largest power centers, anchored by major retailers such as Target, Lowe's, TJ Maxx, Barnes & Noble, and many other nationally recognized brands. Located along War Memorial Drive, Peoria's primary North-South corridor, the center experiences over 41,100 cars passing daily. The center is positioned at a signalized intersection with dedicated turn lanes. Since 2019, when the former Cub Foods building was renovated to house TJ Maxx, Party City, and others, no junior anchor or big box spaces have been available at Glen Hollow.This highly flexible retail space presents a rare opportunity to lease either the entire 40,000 SF space or a subdivided 20,000 SF unit. The landlord is prepared to divide the space into two equal units of 20,000 SF each, with each featuring private restrooms and prominent storefronts. A generous tenant improvement (TI) allowance is available for long-term leases. Renovations to accommodate subdivision are estimated to take approximately 5–6 months. Location Highlights: 5001 Big Hollow Road is located within Glen Hollow Shopping Center — Peoria’s premier retail trade area. The center is home to major national retailers including Walmart, Target, TJ Maxx, Hobby Lobby, Schnucks, Kroger, Hy-Vee, Lowe’s, Ross, Ulta, Burlington, and Best Buy, among many others. The property benefits from excellent visibility along War Memorial Drive, Peoria’s primary north-south corridor, with traffic counts exceeding 41,100 vehicles per day. Situated at a signalized intersection with dedicated turn lanes, the center offers easy access and high exposure. Peoria serves as the county seat of Peoria County and is the eighth largest city in Illinois, with a city population of over 108,000 and a metropolitan area population of approximately 400,000.

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Highlights

$15.00 - $20.00psf
319 designated parking spaces
Generous TI for a long term lease
NNN Lease

Getting around

39/100
Walk Score ®
36/100
Transit Score ®
41/100
Bike Score ®

Powered by Walk Score ®

Location

City Peoria, IL
Neighborhood Northwest Peoria
Zip Code 61615

Points of Interest

Circle K

0.37 miles
Casey's

1.29 miles
Shell

1.75 miles
Hy-Vee Gas

2.98 miles
ChargePoint

3.05 miles
Gas

3.11 miles
BP

3.41 miles
Kroger

3.90 miles
Tesla Motors Destination Charger

4.68 miles
Tesla Supercharger

5.35 miles

additional parking

3.46 miles
Main Street Parking Deck

3.51 miles
Faculty & Commuter Parking

3.60 miles
Faculty & Staff Parking

3.60 miles
Commuter Parking

3.74 miles
Duryea Parking Deck

3.75 miles
Commuter & Faculty Parking

3.80 miles
Parking for UnityPoint Methodist Hospital

3.87 miles
Parking for employees of UnityPoint Methodist Hospital

3.89 miles
OSF North Parking Deck

3.92 miles

Hometown Buffet

0.18 miles
Wendy's

0.21 miles
Steak 'n Shake

0.26 miles
IHOP

0.27 miles
Dunkin'

0.43 miles
Popeyes

0.46 miles
Chick-fil-A

0.48 miles
McDonald's

0.49 miles
Panera Bread

0.49 miles
Chipotle

0.50 miles

Shop 'n Save

0.08 miles
Target

0.17 miles
Northwoods Mall

0.74 miles
JCPenney

0.77 miles
Kroger

1.40 miles
Schnucks

1.48 miles
Walmart

1.80 miles
ALDI

1.87 miles
Kohl's

1.98 miles
Swagat

2.10 miles

5001 N Big Hollow Rd Listing Brief

A property’s location contributes to the asking rent almost as much as its characteristics do. For instance, central urban locations with high walkability or suburban locations with ample parking and easy access by car will claim higher rents but offer superior access to your customer base. Likewise, the quality of the building systems and property finishes have a significant impact on how businesses can conduct their activity there, as well as on the experience of their customers.

5001 N Big Hollow Rd is located in Northwest Peoria, which is home to a total of 36 listing(s). Retail space at Retail Opportunity asks $15.50/SF/YR per square foot.
The property includes 66,430 square feet of retail space for lease. Of this total, 66,430 square feet are Strip.

Lease agreement conditions for the availability at this property include NNN.

For more information or to schedule a tour of the property, use the convenient contact form on this page to get in touch with a representative.
You should keep in mind that different areas gradually build a reputation as hotspots or desirable corridors for shopping, eating, or other entertainment and consumer activities. So, while renting retail space in an area with a well-established high-end reputation might mean more customers that are more willing to spend, it will also place you in a more competitive environment.

Knowing your ideal customer is essential. For your consideration, the average age of residents in Northwest Peoria is 38. The average household income here is $82,157 per year.

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.