Property Flyer - Mid-America Real Estate Group

FENTON COMMONS
Southwest Corner of Highway 141 and Route 30
Fenton (St. Louis MSA), Missouri
For further information contact owner’s exclusive representatives
Ben Wineman
(630) 954-7336
[email protected]
Scott Seyfried
(314) 968-9898
[email protected]
in cooperation with
INVESTMENT CONSIDERATIONS
Mid-America Real Estate Corporation, in cooperation with Mid-America Real Estate - Missouri, LLC and Pace Properties, has
been retained on behalf of the owner to sell the 100% fee simple interest in Fenton Commons Shopping Center located at
Highway 141 & Gravois Road, Fenton, MO 63026.
• National Credit Tenancy: Fenton Commons is 100%
leased to five national credit retailers. Best Buy, Barnes
& Noble, and Old Navy are all the market leaders in their
respective retail product categories. The center also includes
two outlots on ground leases to Bank of America and Chili’s
(Brinker guaranty). The property offers great stability, as all
five tenants have been at the property since its inception in
2005.
• Prominent Retail Market: The center is located in the
epicenter of the strong performing Fenton sub-regional trade
area in southwest suburban St Louis, and lies just north
of the 1.5 million square foot Gravois Bluffs power center.
Complementing Fenton Commons’ own superb tenancy,
Gravois Bluffs provides the trade area with potent regional
draws including Walmart Supercenter, Target, Kohl’s,
Lowe’s, Shop ‘n Save, and JC Penney. The trade area totals
over 2 million square feet and is 98% leased.
• Strong Local Demographics: Fenton Commons benefits
from its high-growth residential population base of 126,010
with average household incomes of $90,000 within a fivemile radius.
• Excellent Accessibility & Visibility with High Traffic
Counts: Fenton Commons is positioned at the “main and
main” intersection of Highway 141 and Route 30, which offers
both superb accessibility and visibility to the center. Highway
141 and Route 30 have exceptionally strong combined daily
traffic counts of 90,344, and both are major traffic carriers
throughout the St. Louis metro area.
• Free and Clear: This property is being offered “free and
clear,” providing an excellent opportunity for a buyer to
finance the transaction at today’s attractive market rates.
LOCATION & MARKET
PROPERTY DESCRIPTION
• Fenton Commons is located at the southwest corner of
Highway 141 and Route 30 in Fenton, Missouri. Highway
141 is a major six-lane divided highway that connects the
entire western portion of St. Louis County, extending south
to I-55 and north to Manchester, Chesterfield, Creve Coeur,
and St. Charles, with interchanges with major thoroughfares
such as I-44, Manchester Road (Route 100), I-64, Route
364, and I-70, before ending in St. Charles County at Route
370. Route 30 is a major regional highway that extends
southwest from the center of St. Louis, and runs throughout
the fast-growing suburbs to the southwest, including Fenton
and High Ridge.
• Fenton Commons is a 71,242 square foot shopping center
situated upon 8.26 acres at the northwest corner of Highway
141 and Gravois Road. The center consists of a large
multitenant building anchored by Best Buy, Barnes & Noble,
and Old Navy that is fronted by two separate outlots with
tenants on ground leases: 1.43 acres leased to Chili’s and
0.94 acres leased to Bank of America.
• About three miles to the east of Fenton Commons is an
interchange with I-270, which is the outer beltway in the
metro St. Louis area. Additionally, less than four miles to
the northwest of Fenton Commons is an interchange with
I-44, which runs from I-70 in St. Louis as its eastern terminus
towards its western end in Wichita Falls, TX, passing through
Tulsa and Oklahoma City along the way.
• Fenton is a southwest suburb of St. Louis situated in St. Louis
County about 16 miles from the city’s downtown. The Greater
St. Louis metro area has a population of 2.81 million, making
it the 4th largest metro area in the Midwest and the 19th
largest in the U.S. Major employers include the headquarters
of nine Fortune 500 companies including Emerson Electric,
Monsanto, Express Scripts, as well as substantial regional
bases for Edward Jones, Enterprise, and Anheuser Busch
InBev.
• The Fenton trade area is a major regional retail hub that
serves the fast-growing middle-upper income suburban
communities primarily located southwest of Interstate 270.
This trade area is anchored by the neighboring Gravois
Bluffs power center, a 1.5 million square foot power
center, developed between 2001 and 2003, and home to
Walmart Supercenter, Target, Lowe’s, Kohl’s, JC Penney,
Gordmans, TJ Maxx, Petco, Michael’s, hhgregg, Gander
Mountain, OfficeMax, Ulta, and Shop ‘n Save. The center
brings significant retail traffic to the corridor and expanded
the regional reach of the market. Other retailers in the area
include Dierbergs, Sports Authority, Gander Mountain, ALDI,
OfficeMax, and hhgregg. The overall Fenton sub-regional
trade area totals over two million square feet and is 98%
occupied.
• The center was built in 2005 and features a wide-open layout
that promotes optimal visibility from both Highway 141 and
Gravois Road, as well as from Highway 30 just to the north
of the center. Fenton Commons is also identified by a large
pylon sign at the property’s southeastern corner.
• The property provides ample parking with 460 spaces for
approximately 6.46 cars per 1,000 SF of GLA. Ingress and
egress is available via two points on Gravois Road at the
property’s southern end.
TENANCY
• Fenton Commons is 100% leased to a dynamic lineup
comprised of leading national retailers Best Buy, Barnes &
Noble, and Old Navy, with two additional outlots included that
are ground leased by Bank of America and Chili’s (Brinker
guaranty).
• All five tenants have been at Fenton Commons since the
center was built in 2005, and currently all have terms that run
through at least November 2020. Rent bumps are included
in all of the leases, and both Barnes & Noble and Old Navy
extended their lease terms in 2015.
• The tenants at Fenton Commons bring a buyer both steady
and accretive cash flow from nationally recognized credit
tenants, with potential upside in the future rental rate growth.
FINANCIAL
Fenton Commons offers a purchaser the opportunity to acquire
a 100% leased, well-positioned regional power center in
Fenton, MO. The Property is being sold without an asking price
and “free and clear” of any existing debt.
2016 Net Operating Income: $1,209,073
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
For further information contact owner’s
exclusive representatives.
Ben Wineman
(630) 954-7336
[email protected]
in cooperation with
Scott Seyfried
(314) 968-9898
[email protected]
CLICK HERE to sign Confidentiality Agreement
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