The Shoppes at Lakeside Crossing

St. Louis | Missouri

Offering Summary

  • Status: closed
  • Price: $5,575,000
  • CAP Rate: 6.20%
  • GLA: 9,695 SF
  • Net Operating Income: $345,789
  • Price/SF: $594.64
  • Year(s) Built: 2016
  • Lot Size (Acres): 1.48
  • Major Tenants: Starbucks, T-Mobile, Qdoba, Snarfs, Edward Jones
  • 100% Occupied 9,695 Square-Foot Class-A Strip Center in St. Louis, Missouri (STL MSA – Over 2.8 Million)
  • Class-A Construction Built in 2016 and situated on 1.48 Acres with Superior Frontage
  • Strong Mixture of Top-Tier, Ecommerce-Proof Tenants | National & Regional Brands
  • Major Tenants Include: Starbucks, T-Mobile, Qdoba, Snarfs, and Edward Jones
  • Dual Anchors | Starbucks & Qdoba | Both Catalysts for Original Construction and Both Signed 10-Year Leases which Run to 2027 With Options Extending Until 2047 | Account for 59% of Base Rent
  • T-Mobile Recently Signed a 10-Year Lease Running Through 2029 | Snarfs Just Exercised First Option which Included Rent Bump & Additional 5-Years of Term
  • Favorable NNN Lease Structures | Recapture of Tax, CAM, Insurance Expenses | 3rd Party Management Fees Reimbursed by Tenants
  • Staggered Lease Expirations & Prominent Rental Bumps in All Options | Nearly All Tenants Are Well into Option Terms Showing Success & Commitment to Site
  • True Irreplaceable Real Estate Along Page Ave | One of STL’s Busiest Throughways Seeing Over 82,897 Vehicles Per Day | Hard-Corner/ Signalized Intersection
  • Meticulous and Strategic Development | Located in STL’s Most Dense Industrial Corridor with Daytime Population of Over 120,000 | Expected to Add Over 5-Million Square-Feet of Industrial Space Over the Next Few Years
  • Dense & Affluent Demographics | Population Counts of 4,771 within 1-Mile, 87,962 within 3-Miles, and 170,573 within 5-Miles | Average Household Income In Excess of $97,800
  • High Barriers to Entry & Limited Competition| Restrictive Zoning Immediately Surrounding + Minimal Developable Land
  • St. Louis is the 21st largest Metro in the United States | Total Population of Over 2.8m | Second Largest City in the State of Missouri
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director