FORMER JOE S CRAB SHACK

Transcription

1 OFFERING MEMORANDUM FORMER JOE S CRAB SHACK (Vacant Building) FAIRVIEW HEIGHTS, IL

2 EXCLUSIVELY LISTED BY ANDREW IVANKOVICH ASSOCIATE DIR (214) MOB (626) LIC # (TX) BRADEN CROCKETT ASSOCIATE VP & Director braden.crockett@matthews.com DIR (214) MOB (714) LIC # (CA) PAt Weibel BROKER OF RECORD LIC # CONTENTS 3 INVESTMENT SUMMARY 5 SURROUNDING TENANTS 6 AREA OVERVIEW

3 INVESTMENT SUMMARY WHY THIS PROPERTY? Highway visibility from Interstate 64, which sees ± 63,074 average daily trips, and Highway 159, which sees ± 25,700 average daily trips Site is in Fairview Heights Plaza shopping center, located along the major retail corridor of the city WHY FAIRVIEW HEIGHTS? A growing market that is the hub of retail trade and tourism in southwestern Illinois Largest retail shopping area in southern Illinois Highest retail sales of all municipalities in St. Clair and Madison Counties Located fifteen minutes from St. Louis financial center Affordable, convenient transportation to and from downtown St. Louis via MetroLink No municipal property tax THE OFFERING Property Name Vacant Property Address 51 Ludwig Drive Fairview Heights, IL Asking Price $700,000 Assessor s Parcel Number Zoning Commercial Site Description Number of Stories One Year Built / Renovated 1997 / 2002 Gross Leasable Area (GLA) ± 6,914 SF Lot Size ± 0.83 Acres (36,155 SF) Type of Ownership NNN Parking ± 78 Surface Spaces Parking Ratio 7.27 : 1,000 SF Landscaping Professional Topography Generally Level Construction Foundation Framing Exterior Parking Surface Roof Concrete Slab Wood Masonry Asphalt Pitched Great place for families FORMER JOE S CRAB SHACK, FAIRVIEW HEIGHTS, IL 3

4 PAR CE L M AP ± 63,074 4 MATTHEWS REAL ESTATE INVESTMENT SERVICES N I l l i n o i s S t ± 2 5,7 0 0 A D T Ludwig Drive

5 SURROUNDING TENANTS FORMER JOE S CRAB SHACK, FAIRVIEW HEIGHTS, IL 5

6 AREA OVERVIEW ST. LOUIS, MISSOURI Referred to as the Gateway City since its establishment, St. Louis enjoys an ideal location along the western bank of the Mississippi River with access to transportation routes in all directions. It continues to be an important center of commerce and culture for the Mississippi River Basin and a major U.S. port in the State of Missouri. It is an independent city, so it is not governed by St. Louis County; however, it is the principal city of the Greater St. Louis metropolitan area. As the largest metropolitan area in Missouri, Greater St. Louis has a strong presence of Fortune 500 company headquarters with a total of nine companies, including Express Scripts, Emerson Electric, Monsanto, Reinsurance Group of America, Ameren, Charter Communications, Peabody Energy, Graybar Electric and Centene. Other major corporations based in the area are Boeing Defense, Panera, Energizer, Purina, and Anheuser-Busch, to name a few. Greater St. Louis economy relies on service, manufacturing, trade, transportation of goods and tourism. 6 MATTHEWS REAL ESTATE INVESTMENT SERVICES

7 REGIONAL MAP Subject Property ECONOMIC AND CITY DEVELOPMENT There have been consistent moves towards urban revitalization in the city, specifically through the restoration of Union Station and in the Washington Avenue Historic District. New residential facilities and reclaimed warehouse lofts anchored by new sports venues have appeared in the St. Louis downtown area as well; Similar restorations are underway in other neighborhoods throughout the city. Programs such as Arch Grants, a nonprofit organization that accelerates economic development by providing $50,000 equity-free grants and pro bono support services to early-stage businesses in St. Louis, are attracting new startups to the region. Through these aggressive efforts, the city hopes to inspire the next generation of employers, civic leaders, and philanthropists. The city s potential to become the next major tech hub is becoming more evident as it has been recognized by several tech companies. WASHINGTON UNIVERSITY ST. LOUIS RESEARCH AND MEDICINE Healthcare has emerged as a major industry in the backbone of the local economy, establishing St. Louis as a center for biotechnology and medicine. St. Louis is known for its growing medical, pharmaceutical and research presence. With the campuses of two national research universities, Washington University in St. Louis and St. Louis University, the city has numerous resources at its disposal in the fields of medical research. Washington University s School of Medicine is affiliated with Barnes-Jewish Hospital, which is the fifth largest hospital in the world, and St. Louis Children s Hospital, one of the top pediatric hospitals in the country. The School of Medicine has been ranked among the top 10 medical schools. FORMER JOE S CRAB SHACK, FAIRVIEW HEIGHTS, IL 7

8 GETTING AROUND AIR TRAVEL Employer St. Louis is served by two airports: Lambert St. Louis International Airport and MidAmerica St. Louis Airport. Lambert is 11 miles northwest of downtown, serving as a focus hub city for Southwest Airlines. With over 255 daily departures to domestic and international locations and a total of over 13 million passengers, Lambert is the largest and busiest airport in the state. MidAmerica is a secondary passenger airport located 17 miles east of the city downtown core. Serving the metropolitan area s domestic passengers, MidAmerica is currently served by Allegiant Air and has been seeing an exponential increase in annual passengers, reaching a record number of over 133,000 passengers in METROLINK Consisting of two lines operating on a double track, MetroLink is the light rail transit system in the Greater St. Louis area of Missouri and the Metro East area of Illinois. The system features 37 stations and carries an average of 53,123 passengers each weekday; It is the 11th-largest light rail system in the country and the second largest in the Midwestern United States. # of Employees TOP EMPLOYERS # Employer 1 BJC HealthCare 2 Wal-Mart Stores Inc. 3 SSM Health 4 Washington University in St. Louis 5 Boeing Defense, Space & Security GATEWAY TRANSPORTATION CENTER The Gateway Transportation Center is the city of St. Louis state-of-the-art multimodal transportation hub. Conveniently located in the heart of downtown St. Louis, it is where Amtrak, the Greyhound bus, and MetroLink and MetroBus converge. PORT AUTHORITY River transportation is available through the Port of St. Louis, which is the second largest inland port by trip-ton miles. Handling more than 32 million tons of freight annually, the port has access to twenty-nine industrial centers with a population of 90 million. The city of St. Louis Municipal River Terminal, just north of downtown, is a 40-acre general purpose, public facility with a recently built dock. METROBUS MetroBus is the local bus service in St. Louis with more than 75 routes connecting to MetroLink commuter transit and stops in the city region. It is managed by the Bi-State Development Agency and uses a shared fare system with the MetroLink system. 8 MATTHEWS REAL ESTATE INVESTMENT SERVICES

9 FAIRVIEW HEIGHTS, ILLINOIS Just thirteen miles east of St. Louis, Missouri, Fairview Heights is a growing southwestern Illinois community in St. Clair County that offers all the advantages of a St. Louis Metro location. Referred to as the Eastern Gateway to the St. Louis metropolitan area, Fairview Heights has easy access to and from downtown St. Louis via MetroLink, which provides fast, reliable and inexpensive transportation. As the center of retail trade and tourism for southwestern Illinois, Fairview Heights is home to St. Clair Square, a 1.1 million square foot super-regional mall with 140 retail outlets, and several other shopping plazas. The local economy is heavily influenced by retail industries, tourism and nearby Scott Air Force Base. Fairview Heights itself has the highest retail sales of all municipalities in St. Clair County and neighboring Madison County. Meanwhile, Scott Air Force Base, which is an estimated 5 miles east of the city, has an annual economic impact in excess of $3.2 billion; Numerous major military organizations are headquartered there. Over 205 acres of land have been set aside to provide residents with a variety of recreational activities and events such as the city s annual Midwest Salute to the Arts Festival of Fine Art, held at their ninety-acre Longacre Park. Each year, thousands of people visit Fairview Heights for this festival to view exhibits displaying the works of more than one hundred regional and national artists. DEVELOPMENT Once productive farmland, Fairview Heights has become a thriving community largely due to the formation of a government focused on working for the betterment of residents and businesses. With approximately 3.5 million square feet of commercial space in the vicinity of downtown St. Louis and the absence of municipal property taxes, Fairview Heights is an ideal location for businesses to prosper and grow. Programs and services designed to meet the needs of the public, along with several advisory boards and volunteer groups, have increased the city s desirability as a place to live, work and shop. The successful implementation of these forward-looking initiatives yielded the completion of 94 residential and business energy efficiency projects between Q2 of 2015 and Q1 of 2016 and a MetroBikeLink trail that runs adjacent to the MetroLink rail tracks, among other projects. Fairview Heights has been recognized for these achievements through its selection by Ameren Illinois as a 2016 Progressive City. In acknowledgment of the award, the city received a grant toward a community-related project. DEMOGRAPHICS POPULATION 1-Mile 3-Mile 5-Mile 2022 Projection 3,295 32, , Estimate 3,325 31, , Census 3,342 30, , Census 2,723 24,661 98,616 HOUSEHOLD 1-Mile 3-Mile 5-Mile 2022 Projection 1,449 13,145 44, Estimate 1,463 13,008 44, Census 1,473 12,581 44,773 INCOME 1-Mile 3-Mile 5-Mile 2017 Est. Average Household Income $76,770 $79,811 $76,353 FORMER JOE S CRAB SHACK, FAIRVIEW HEIGHTS, IL 9

10 LANDMARKS ST. LOUIS GATEWAY ARCH Built at the site of St. Louis founding on the west bank of the Mississippi River, the Gateway Arch is a 630- foot monument commemorating the westward expansion of the United States. Clad in stainless steel and built in the form of an inverted, weighted catenary arch, it is the world s tallest arch and the tallest man-made monument in the western hemisphere. It is the centerpiece of the Jefferson Expansion Memorial. MISSOURI BOTANICAL GARDEN Offering 79-acres of beautiful horticultural display, the Missouri Botanical Garden is the nation s oldest botanical garden in continuous operation. This urban oasis is also a National Historic Landmark that has been in operation for over 158 years. As a center for botanical research and science education, the Missouri Botanical Garden seeks to protect and conserve plants and their ecosystems. FOREST PARK Owned and operated by the City of St. Louis, Forest Park is one of 105 city parks under the jurisdiction of the Department of Parks, Recreation and Forestry. It is one of the largest urban parks in the country, at 500-acres larger than Central Park. With more than 12 million visitors a year, it s home to the region s major cultural institutions: the Zoo, Art Museum, History Museum, Science Center and the Muny Opera. SAINT LOUIS ZOO Seeing more than 3 million annual visitors, the Saint Louis Zoo has been voted America s Top Free Attraction. It is renowned for its innovative approaches to animal management, wildlife conservation, research and education. With more than 15,000 animals in its care, the Saint Louis Zoo has naturalistic exhibits displaying its diverse collection of species, many of which are rare and endangered. BUSCH STADIUM Busch Stadium is the baseball park that is home of the St. Louis Cardinal s, the city s Major League Baseball (MLB) franchise. Fans can tour the stadium and gain an inside look at the home of the Cardinals. The stadium features an adjacent commercial area dubbed Ballpark Village, which is a dining and entertainment district consisting of over 150,000 square feet of retail shops, restaurants, and entertainment venues. ANHEUSER-BUSCH BREWERY Located in St. Louis historic Soular neighborhood, the Anheuser-Busch Brewery offers visitors a trip back in time as they walk through its halls. The St. Louis brewery boasts an array of signature tours and attractions, such as The Biergarten, the Beermaster Tour and the Day Fresh Tour. A truly unique space, The Biergarten offers a charming view of an urban landscape that can be enjoyed with Anheuser Busch s premium beers. 10 MATTHEWS REAL ESTATE INVESTMENT SERVICES

11 FORMER JOE S CRAB SHACK, FAIRVIEW HEIGHTS, IL 11

12 CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Former Joe s Crab Shack located at 51 Ludwig Drive, Fairview Heights, IL ( Property ). It has been prepared by Matthews Retail Advisors. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Retail Advisors. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Retail Advisors expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or 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 and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Retail Advisors or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

13 EXCLUSIVELY LISTED BY ANDREW IVANKOVICH ASSOCIATE DIR (214) MOB (626) LIC # (TX) BRADEN CROCKETT ASSOCIATE VP & DIRECTOR braden.crockett@matthews.com DIR (214) MOB (714) LIC # (CA) Pat Weibel BROKER OF RECORD LIC # FORMER JOE S CRAB SHACK (VACANT BUILDING) FAIRVIEW HEIGHTS, IL JOE S CRAB SHACK, FAIRVIEW HEIGHTS, IL