Overland Plaza
Retail | 205,918 SqFt
Marketing description
Overland Plaza is strategically positioned at the I‑170/Page Ave interchange, providing true regional accessibility and prominent pylon/monument exposure. The three mile trade area contains approximately 1.8 million SF of retail with vacancy of ±1.2%. The surrounding mid county submarket combines high‑income neighborhoods to the south with blue‑collar stability in the immediate vicinity and is further bolstered by significant industrial density (±5.4M SF within ±1 mile; ±99% occupied). Within a three mile radius of the property, there is a population of 101,935 residents (AHI $118,554; MHI $70,695).
Investment highlights
Comprehensive 2024 Redevelopment
Heavy redevelopment with reinvestment of $21M in 2024. Includes 55,500 SF new construction and substantial renovations across the center providing incoming investors with a like new development and virtually no near‑term capital exposure.
Market‑Leading Grocer
Anchored by Schnucks, which operates 164 locations across four states and is recognized as St Louis’ dominant grocer. Schnucks has 37-Yrs of operational history at the property and strong consumer performance metrics (69% of Chain – Placer AI)
Tenured Tenancy
Overland Plaza features a weighted average lease tenancy of 22.25 years. 67% of GLA and 59% of revenue is derived from tenants with more than 10-Yrs of operational history at the property.
Credit‑Weighted Rent Roll
±85%+ of revenue derived from national tenants with 55% of Year‑1 revenue investment‑grade.
Minimal Near‑Term Roll
Only ±3.97% of revenue expiring through Year 2; diverse revenue with no single tenant >25% of Year‑1 revenue.
Pad Bifurcation Optionality
Separate value‑creation via the McDonald’s ground lease and absolute‑net 7 Brew pad.
• McDonald’s - $115,652 GL | 38-Year tenure
• 7 Brew - $80,000 GL | 10 years remaining
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