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Views: 92 DOM: 618 Updated: 10.21.24 Posted: 02.20.23 Status: Active

Summary

Price $4,805,000
Built/Renov 2019
Tenant Save-A-Lot
Cap Rate 6.55%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 15,985
Lease Start 01-03-2020
#Units 1,300
Price/SF $300.59
Expiration 01-31-2035
Tenant Type Grocery
NOI $314,916
R. Term 10.3
Ownership Fee Simple
Rent/SF $19.70
Increases 5.0%/2/yrs
Pop 5Mi 327,817
Lot/AC 0.60
Options 4/5yrs/5%
AHHI 5Mi $84,897

Lease Highlights

  • Save-A-Lot has been operating in this location since 2019
  • 10 years remaining on the current lease with 4 (5-year) options to extend
  • Lease features 5% rental increases every five years throughout the initial term and at each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by ONEX Corporation (TSX: ONEX)

Location Description

Save-A-Lot is located at the hard corner intersection of Union Boulevard and Page Boulevard which sees 36,000 vehicles per day. Nearby major national retailers include Ikea, Target, Home Depot, Walgreens, Dollar General, Dollar Tree, AutoZone, Advanced Auto Parts, Walmart, Lowe’s and many more. The site also benefits from being a 10-minute drive from Washington University in St. Louis with...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Save-A-Lot
  • Guarantor:Corp Traded
  • Company:ONEX Corporation
  • # Units:1,300
  • Stock: TSX: ONEX

About Tenant

Save A Lot Food Stores Ltd. is one of the country’s largest discount supermarket chains. Stores carry most grocery products, with an assortment of fresh, canned and frozen produce, meat, meal...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
Page Blvd Arlington Ave 2009 17,042 0.08 mi
Union Blvd Minerva Ave 2013 17,860 0.09 mi
Page Boulevard Belt Ave 2018 7,179 0.26 mi
Page Blvd Belt Ave 2019 14,398 0.26 mi
Union Blvd Windermere Pl 2018 5,720 0.34 mi
Page Blvd Montclair Ave 2013 14,207 0.43 mi
Dr Martin Luther King Dr Burd Ave 2019 3,849 0.52 mi
Doctor Martin Luther King Drive Burd Ave 2018 3,543 0.52 mi
N Kingshighway Blvd Vernon Ave 2013 36,104 0.59 mi
Dr Martin Luther King Dr Clara Ave 2013 7,987 0.59 mi

Listing Broker

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