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Fairview Heights Plaza in Fairview Heights, Illinois 198,801 SF ANCHORED SHOPPING CENTER LOCATED fairview heights plaza IN FAIRVIEW HEIGHTS, IllINOIS EXECUTIVE SUMMARY fairview heights plaza EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. (HFF), in conjunction with Ten-X, is pleased to present the KEY PROPERTY STATISTICS opportunity to acquire the fee-simple interest in Fairview Heights Plaza (the “Property”), a Address: 49-81 Ludwig Drive, Fairview Heights, IL 62208 198,801 SF retail center in Fairview Heights, Illinois, less than 13 miles from St. Louis. The center features a rent roll with more than 94.2% of the leased SF occupied by national tenants. Year Built: 1992 / 2002 Included in the national-tenant dominated rent roll is Gordmans, Sears Outlet, Guitar Center, Land Area: 19.73 acres and Planet Fitness. The Property is currently 71.5% occupied and provides an investor with an Parking: 955 spaces income stream secured by tenancy with a weighted average remaining lease-term of 4.0 years Tenant RSF % of Total Gordmans 60,137 30.2% The Property is situated in Fairview Heights, a dominant retail hub conveniently located within the St. Louis MSA. Fairview Heights Plaza is located immediately north to Interstate 64/Illinois Sears Outlet 31,310 15.7% Street interchange, providing quick access to the other retail centers in the area and less Guitar Center 22,176 11.2% than 13 miles from Downtown St. Louis. Fairview Heights is widely-known as a sought-after WHITCO / Planet Fitness 20,310 10.2% retail destination in Southwest Illinois as there is 3.7 MSF of retail space with a vacancy rate Ginger Buffet & Grill 8,300 4.2% of 4.4% within a one-mile radius of the Property. Fairview Heights Plaza represents a unique Leased SF 142,233 71.5% opportunity to acquire a retail center in the St. Louis metro’s preferred retail submarket with a roster of diverse national tenants. Available 56,568 28.5% Total RSF 198,801 100.0% ALL BIDS WILL BE ACCEPTED THROUGH AN ONLINE AUCTION PLATFORM IN CONJUNCTION WITH TIMELINE BIDDING PERIOD COMMENCES Monday, November 6th BIDDING PERIOD ENDS Wednesday, November 8th 2 EXECUTIVE SUMMARY fairview heights plaza ROSTER OF DIVERSE, NATIONAL TENANTS LOCATION WITHIN A DOMINANT SUBMARKET Fairview Heights Plaza’s tenant roster provides exceptional Fairview Heights Plaza is located directly north of Interstate-64 income security as 94.2% of the currently leased GLA is leased and immediately northwest of the I-64/Illinois Street interchange. to national tenants. Additionally, the Property’s tenant mix The Property’s location allows for convenient access to the promotes significant cross-shopping through a combination of heart of the retail hub. The city is considered South Illinois’ most offerings including discount apparel, fitness, home appliances, sought-after retail location for the following reasons: music/entertainment, and dining. • 75,500 vehicles pass through I-64 daily and 38,400 vehicles DEMONSTRATED TENANT DEMAND travel along N Illinois Street daily • Over 4.6 MSF of retail space is located throughout Fairview Tenants who currently occupy the suites at Fairview Heights Heights and posts and occupancy rate of 95.7% Plaza have been in place for 14.2 years, on a weighted average • The area is home to St. Clair Square Mall (1.0 mile from basis. Additionally, the weighted average remaining lease term the Property down Illinois Street), South Illinois’ premier for these tenants is 4.0 years. shopping destination with 1.1 MSF and 140 stores with tenants including Macy’s, Dillard’s, and JC Penney Gordmans, who occupies 60,137 SF (30.5% NRA), has occupied • Minimal shopping options located within a 30-mile radius to their space for 23 years and recently faced a December 2019 the south or east expiration date. In March 2017 Stage Stores Inc. closed on a deal to acquire certain assets from the bankrupt retailer, selectively DEMOGRAPHIC STATISTICS choosing which stores to keep open. Recently, Stage Stores 1 Mile 3 Mile 5 Mile Inc. extended the Gordmans lease through January 2023. 2017 Population 2,064 30,146 107,217 Additionally, Stage has the option to renew and extend the lease Total Households 898 12,261 43,236 for four additional renewal terms of five years each. Median Household Income $51,818 $67,352 $60,695 NNN Inventory Vacancy Rental Rate MARKET STATISTICS St. Louis MSA 169,126,936 5.3% $11.85 1 Mile 3 Mile 5 Mile Fairview Heights 4,688,027 4.6% $14.16 Source: CoStar 2Q 2017 Retail RSF 3,717,823 6,334,475 10,273,047 OFFERING FORMAT Vacancy 4.4% 3.7% 4.2% Fairview Heights Plaza is being offered on a free and clear basis, which allows an investor to take advantage of today’s strong 12 Mo. Absorption 80,048 155,544 217,828 lending markets for quality real estate assets, thus generating Source: CoStar 2Q 2017 accretive levered returns. 3 fairview heights plaza EXECUTIVE SUMMARY LINCOLN CROSSING ST. CLAIRE SQUARE FAIRVIEW CITY CENTRE LINCOLN PLACE N ILLINIOS ST RD 25,700 VPD IN T 7 E 7 R ,5 S 0 T 0 A FAIRVIEW HEIGHTS PLAZA V T CROSSROADS CENTRE P E D 6 4 13 MILESST. & LOUIS15 MINUTES AWAY MARKETPLACE SHOPPING CENTER 4 SALE INQUIRIES Atlanta Austin Brock Cannon Stephen Van Leer Boston Managing Director Associate Carolinas 212.632.1808 212.632.1824 Chicago [email protected] [email protected] Dallas LOCAL MARKET RETAIL SPECIALIST Denver Hartford Clinton Mitchell Houston Senior Director Indianapolis 312.980.3619 [email protected] Los Angeles Miami FINANCING CONTACT New York Jason Bond New Jersey Senior Director Orange County 312.980.3608 Orlando [email protected] Pittsburgh Portland San Diego San Francisco Tampa Washington, DC London Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF..
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