adams place - loopnet€¦ · adams place. 100-130 west adams ave. kirkwood, missouri 63122. bob...
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ADAMS PLACE100-130 West Adams Ave.Kirkwood, Missouri 63122
Bob Staniforth 314 994 [email protected]
Jeff Sanders 314 994 [email protected]
60,000 SF Mixed Use Development presented by:
NAI DESCO (“Broker”) has been retained by the Seller of 100-130 West Adams Avenue, Kirkwood, MO (“Property”) as the exclusive broker for this Investment opportunity. Seller is only paying a commission to the listing brokerage firm. Purchaser is responsible for any commission paid to the brokerage firm.
This Offering Memorandum has been prepared by Broker for use by the principal (“Principal”) to whom Broker has provided this Offering Memorandum. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by Broker and executed by Principal prior to delivery of this Offering Memorandum. Although the information contained herein is based upon sources believed to be reasonably reliable, Owner and Broker, on their own behalf, and on behalf of their respective officers, employees, shareholders, partners, directors, members and affiliates, disclaim any responsibility or liability for inaccuracies, representations and warranties (expressed or implied) contained in, or omitted from, the Offering Memorandum or any other written or oral communication or information transmitted or made available to the recipient of this Offering Memorandum.
In amplification of and without limiting the foregoing, summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein, and no representations or warranties are made as to the completeness and/or accuracy of the projections contained herein. Prospective purchasers of the Property should make their own investigations and conclusions without reliance upon this Offering Memorandum, the information contained herein or any other written or oral communication or information transmitted or made available. Additional information and an opportunity to inspect the Property will be made available upon written request by interested and qualified prospective purchasers.
Owner expressly reserves the right, exercisable in Owner’s sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Owner and Broker each expressly reserves the right, exercisable in their sole and absolute
discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Broker is not authorized to make any representations or agreements on behalf of Owner. Owner shall not have any legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed, delivered and approved by Owner and the other party thereto and any conditions to Owner’s obligations hereunder have been satisfied or waived. If you have no interest in the Property at this time, return this Offering Memorandum immediately to:
NAI DESCO101 S. Hanley Road, Suite 1900St. Louis, MO 63105tel +1 314 994 4444fax +1 314 994 4088www.naidesco.com
Disclaimer
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4 Section 01Property Overview
18 Section 02The Market
25 Section 03About Us
Table of
Contents
Adams PlaceAddress100-130 West Adams AveKirkwood, MO 63122In St. Louis County
Trade AreaCentral St. Louis County
Premises60,000 SF3-Story Mixed Use Building
Land Area1.47 Acres
Commercial TenantsEdward JonesSunset 44 RestaurantCarl C. Polster, AttorneyMidwestern Braille Volunteers
Year Constructed1991
Parking100 Parking Spaces; 16 in GarageFree public parking adjacent to premises
Annual Taxes (2018)$115,094.00
MiscellaneousBack-up GeneratorElevator ServedPartial Basement with Individual Secure Storage
Asking Price $8,000,000.00 – Current As Is
Appraised Value
Property OverviewProperty Features
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The OfferingNAI DESCO, as the exclusive advisor to Ownership, is pleased to present this opportunity to acquire a 60,000 square foot, Independent Senior Living and Commercial Facility in Kirkwood, Missouri.
The subject is located in the St. Louis, MO-IL Metropolitan Statistical Area, hereinafter called the St. Louis MSA, as defined by the U.S. Office of Management and Budget. The St. Louis MSA is 7,864 square miles in size, and ranks #20 in population out of the nation’s 382 metropolitan areas.
PopulationThe St. Louis MSA has an estimated 2018 population of 2,859,358, which represents an average annual 0.3% increase over the 2010 census amount of 2,787,701. St. Louis MSA added an average of 8,957 residents per year over the 2010-2018 period, and its annual growth rate is less than that of the United States.
Population TrendsLooking forward, the St. Louis MSA’s population is projected to increase at a 0.3% annual rate from 2018-2023, equivalent to the addition of an average of 9,421 residents per year. The St. Louis MSA growth rate is expected to lag that of the United States, which is projected to be 0.8%
Executive SummaryOffering Overview
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The Offering44 Luxury Apartments
• 22 Standard 1 Bedroom 600 – 680 S.F.• 6 Deluxe 1 Bedroom 700 – 880 S.F.• 9 Standard 2 Bedroom 800 – 1,000 S.F.• 7 Deluxe 2 Bedroom 900 – 1,150 S.F.
• All electric• Separately metered units• All units have washer/dryer hook-ups • Zoned as condominiums• 25 units vacant• Various stages of occupancy readiness• Many units with balconies• Full bathrooms and kitchens• Stainless steel appliances• Walk-in and standard closets• Individually controlled HVAC• 2nd floor laundry room• 3rd floor common area living room• Large 1st floor lobby with fireplace, multi-purpose room and living room,
management office and reception area• Outside patio area• Walking distance to banks, grocery store, and many restaurants• Van service available
Executive SummaryIndependent Senior Apartments Overview
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Property
Overview
Property
Overview
Property
Overview
One Bedroom Standard
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Property
Overview
One Bedroom Deluxe
10
Property
Overview
Two Bedroom Deluxe
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Property
Overview
Property
Overview
Property
Overview
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Property
Overview
Property OverviewProperty Demographics
Property OverviewProperty Demographics
Key FactsIn a 3-Mile Radius
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Executive Summary
The
Market
Adams PlaceTrade Area Overview City of KirkwoodFounded in 1853, Kirkwood has long been known for its small town charm, vibrant business community, and strong civic involvement. With a rich history in transportation - from railroads to Route 66, the residents and business community enjoy diverse shopping and dining opportunities.
Located in southwestern St. Louis County, the area has high property values, quality public and private schools, safe neighborhoods and exceptional City services. The area is rich in park land and trails, and has opportunity for every type of sports enthusiast. From tree lined streets, to The Farmer's Market, the award winning Magic House Children’s Museum, Transportation Museum and shopping, including malls and unique shops, Kirkwood is the perfect place to live, work and play.
service
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3 Market OverviewAdams PlaceTrade Area Overview
The MarketTrade Area Overview
Major Employers
Some of Kirkwood’s major employers include:
• Kirkwood School District – 714 employees
• The Lutheran Church – Missouri Synod – 381 employees
• Meramec Community College – 343 employees
• City of Kirkwood - 321 employees
• Target - 150 employees
• Ashfield Active Living & Wellness – 143 employees
• Lowe’s – 117 employees
• Wal-Mart – 113 employees
• St. Agnes Home – 98 employees
• Arrow Box Company – 69 employees
Downtown Kirkwood, Missouri, is located in the suburban heart of the St. Louis metropolitan area. Downtown Kirkwood has been a regional destination for area residents since trains began boarding passengers at the Kirkwood Train Station in 1853.
Today, Downtown Kirkwood retains the charm and character of the past combined with abundant shopping, dining, and entertainment in a rare pedestrian friendly outdoor ambiance. Spanning sixteen square blocks, Downtown Kirkwood is home to more than 100 specialty shops and restaurants whose owners and staff often welcome customers by name as they enter.
You'll find Downtown Kirkwood to be visitor and customer friendly, with plenty of parking.
Located within Downtown Kirkwood, the Kirkwood Public Library, Kirkwood Farmers' Market, Post Office, City Hall, YMCA, along with many shops, restaurants, and churches are within easy walking distance. Customers and employees of over 150 professional offices and service providers may never have reason to get back into their cars during the day.
The streets and sidewalks of Downtown Kirkwood are equally friendly for families with children as well as those with disabilities or special needs. Walkers, joggers, cyclists, students and strollers can all be seen daily, sharing the tree lined sidewalks of Downtown and surrounding Kirkwood neighborhoods.
Numerous plantings and more than one hundred large flower pots that line the streets of Downtown Kirkwood enhance the experience of walking, cycling or jogging throughout the area. These amenities along with the unique and historic storefronts in the district enhance the experience of passersby.
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3 Market Overview
Adams PlaceTrade Area Demographics
U.S. Census 1 Mile 3 Miles 5 Miles
Population 13,298 60,833 105,815
Households 5,861 24,254 46,337
Avg HH Inc. $115,401 136,911 $113,391
Daytime Pop 12,798 68,202 144,285
Demographics
5 Mile Radius Avg. Household Income
5 Mile Radius Avg. Home Value
The MarketTrade Area Demographics
3 Market Overview
The region’s strengths, which will drivefuture economic growth, include centrallocation, infrastructure capacity,favorable cost structure, andcompetitive competencies inbioscience, financial services, andadvanced manufacturing.
The region’s current industrycomposition mirrors the national mix,closely linking St. Louis’ economicperformance with national businesscycles.
Business EnvironmentGreater St. Louis has long proved itselfan advantageous partner, which is whyit has such an impressive corporateresume today. 16 Fortune 1000companies call St. Louis home, alongwith some of the nation’s largestprivately held firms such as EnterpriseRent-a-Car and World WideTechnology.
Some of its advantages are inherent inthe size of the market, the 19th largest
Greater St. Louis offers a remarkableblend featuring the big-city assets of askilled work force, great cultural andeducational institutions, and superbrecreational opportunities. Yet St. Louisalso provides the convenience,intimacy, and affordability of a smallercommunity.
The EconomyThe $150 billion St. Louis regionaleconomy is established, broad, andgrowing. Built on commerce, theregion’s economy began as a tradingcenter in 1764, grew into amanufacturing powerhouse, and hasundergone dramatic diversificationdriven by an expanding service sector,over the past two decades. Now oneof the nation’s most diversemetropolitan economies, with about halfof the regional gross product andemployment represented by the health,education, financial, and businessservices sectors. The St. Louiseconomy is balanced, resilient, andready for the 21st century economy.
metropolitan area in the U.S. Some areactually juxtaposed to that “bigness,” asthe costs associated with living andworking in St. Louis are actuallyreflective of a much smaller community.The bottom line is that St. Louis has allthe advantages that can only be foundin a major market, but in a morebalanced environment than one mightlikely expect.
Greater St. Louis is a place where bothbusinesses and people can thrive, aplace where people can live where theywork. The region offers an exceptionalquality of life, affordability, centrallocation, a skilled work force, and abusiness-friendly environment.
Driven by a diverse and well-educatedwork force, Greater St. Louis is a majornational business center. With anexcellent quality of life and affordablecost of living, Greater St. Louis is agreat base for companies and people
alike.
Saint Louis, MOMarket Overview
The MarketSt. Louis MSA Overview
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3 Market Overview
advantage every single day.
4) It’s available and affordable. We havea growing and affordable work forcewith wage and unemployment ratesthat track the U.S. average.
Greater St. Louis offers an affordableliving for those who work here and atthe same time provides employers acompetitive and reasonable market inwhich to do business.
Transportation & InfrastructureThe St. Louis area offers manytransportation advantages for thoseliving and doing business here. St.Louis enjoys access to four modes oftransportation - air, rail, road, and water,providing superior access to local,national, and international markets. Thecentral location and robustinfrastructure systems afford some ofthe lowest shipping costs in the country.
The easy-to-navigate transportationinfrastructure includes four interstatehigh
The WorkforcePeople are the engine that drivessuccessful businesses. Greater St.Louis home to a vibrant, well-educated,and diverse work force -- the keyingredient for growing your company.
1) St. Louis talent is well-educated.More than 600,000 residents have abachelor’s degree or higher or about32% of the region’s adult population.Our talent base is exceptional, withconcentrations of life scientists,engineers, computer analysts,professional managers and other highlyspecialized occupations needed for the21st century economy.
2) It's highly and broadly skilled. The St.Louis economy is highly diversified as isthe workforce that supports the broadindustrial base is as well.
3) It’s hard-working. The Midwesternwork ethic is real. Companies in thearea apply that dedication andcommitment as a competitiveadvantage every single day.
Source: St. Louis Regional Chamber & Growth Association
Saint Louis, MOMarket Overview
The MarketSt. Louis MSA Overview
highways and four interstate linkages.The region is at the nexus of thenation’s north/south and east/westinterstate highway systems. St. Louisalso has an effective masstransportation grid that featuresMetroLink, the city’s commuter railsystem that connects Lambert-St. LouisInternational Airport, the downtownarea, and communities in Illinois andMissouri.
Situated at the confluence of theMississippi, Missouri, and Illinois rivers,St. Louis is home to the nation’ssecond-largest inland port by tonnage,with six Class I railroads and severalsmaller industrial rail lines; St. Louis isone of the nation's largest rail centers.
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DemographicsSt. Louis’Largest Employers
St. Louis is home to 15 Fortune 1000 headquarters, of which 10 are in the Fortune 500
#25 Express Scripts
#61 Centene
#178 Emerson Electric
#234 Reinsurance Group of America
#376 Edward Jones Financial
#426 Graybar Electric
#448 Olin
#453 Ameren
#491 Peabody Energy
#512 Post Holdings
#734 Stifel Financial
#778 Caleres
#851 Belden
#870 Arch Coal
#876 Edgewell Personal Care
The
Market
UNITED STATES
Families Households: 66.2%Married-Couple Families: 48.3%
Non-Families Households: 33.8%Average Household Size: 2.63Average Family Size: 3.23
Median Household Income: $50,502Per Capita Income: $26,708
ST LOUIS MSA
Population: 2,805,252Households: 1,119,606
Families Households: 65.6%Married-Couple Families: 47.6%
Non-Families Households: 34.4%Average Household Size: 2.50Average Family Size: 3.10
Median Household Income: $51,154Per Capita Income: $28,170
3 Market OverviewThe
MarketSt. Louis MSADemographics
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About Us
NAI DESCONAI DESCO is a leading commercial real estate and property management firm serving Central and Eastern Missouri and Southern Illinois. Founded in 2000, NAI DESCO was formed when the Schnuck family partnered with veteran brokers to create an independent firm for the brokerage of third-party office, industrial, medical, retail and investment properties.
In 2011, NAI DESCO acquired competitor Coldwell Banker Commercial's St. Louis brokerage division. This acquisition increased NAI DESCO's inventory and agents by approximately one-third.
About DESCO GroupNAI DESCO’s sister company, The DESCO Group, manages, leases and develops the Schnuck Markets portfolio as well as developing third-party properties. Together, the companies provide a full range of commercial real estate services.
About NAI GlobalNAI DESCO is the local affiliate of NAI Global, a worldwide real estate network with 400 offices in 55 countries. NAI offices complete over $45 billion in combined transactions annually and manage 300+ million square feet of commercial space. Since 1978, NAI Global's clients have built their businesses on the power of our expanding network. NAI Global's extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.
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For more information:Bob Staniforth, SIOR314.994.4800 Direct314.973.1570 Mobile
For more information:Jeff Sanders
314.994.2325 Direct314.578.1926 Mobile
101 S. Hanley Road, Suite 1900St. Louis, MO 63105+1 314 994 4444
www.naidesco.com