2 E Main St
Danville, IL 61832
Danville Towne Centre · Retail Property For Sale

As the county seat of Vermilion County, Danville holds strategic import, providing built-in demand drivers for both retail and office uses. Danville Towne Centre (DTC) is located at the gateway to downtown Danville, directly across the street from the Vermilion County courthouse, Circuit Clerk’s office, Danville City Hall and other municipal buildings. Anchored by a newly built Save A Lot grocery store and a long tenured Family Dollar store, the retail center is leased to a mix of national, regional and local tenants with long histories at the property and significant lease terms. The center is buoyed by the significant daytime population generated not only by the aforementioned nearby government buildings, but also by the Property’s anchoring ±80,000 square foot office building, 71% of which is occupied by the global headquarters of Cannon Cochran Management Services, Inc. (CCMSI), the nation’s largest independent third-party insurance administrator with 33 offices nationwide. CCMSI has held its HQ at the Property since 1994 and recently renewed its lease through December of 2032, providing a new owner with stability and certainty of income. The retail center also offers significant value-add upside via the existing 20% inline vacancy and the potential to construct an out parcel / pad site fronting Main Street. On a macro level, two recently announced major economic development drivers in Danville stand to significantly benefit DTC and add to its allure as a timely investment opportunity. On August 21, 2019, Urbana, Illinois-based healthcare provider Carle announced plans to construct a new, $50-million medical campus located only 3 blocks west of DTC. The development of a new hospital and medical campus a stone’s throw away from the Property will add many new jobs to the immediate area, as well as significantly boost demand for new office, medical office and retail to service this new hub of activity. In addition to the new Carle medical campus, Danville was named as a location for one of six newly approved casino licenses in the State of Illinois as part of the state’s new gambling expansion law passed in June of 2019. The casino is expected to add a significant number of jobs and revenue to the community and will serve as another driver of economic development.