Florissant Plaza
FOR SALE | Florissant Plaza: Stabilized Retail Asset in High Traffic Corridor | 100% Leased
Marketing description
CBRE, Inc. is pleased to exclusively offer for sale the fee simple interest in Florissant Plaza, a 38,240 square foot neighborhood center (the “Offering”). Built in 1964-1987 and renovated in 2014, Florissant Plaza is situated on 3.65 acres in St Louis, Missouri (Top 23 MSA | Pop: 2.8 million). Currently 100% occupied, the Offering provides an incoming investor with a well-positioned asset with tenured tenancy in a high-traffic corridor.
Florissant Plaza is located in Florissant, which is a northern suburb within St. Louis, MO. It is strategically positioned on N. Lindbergh Boulevard (Hwy. 67), which is recognized as the primary retail thoroughfare within the trade area. The trade area includes nearly 3.5 million square feet of retail development measured by centers in excess of 25,000 square feet with a current occupancy of 94%. Additionally, the trade area is recognized for having high residential density with a population of 96,210 and 38,928 households within a 3-mile radius
Investment highlights
High Traffic Dynamic Trade Area
Florissant Plaza is located along Lindbergh Blvd., in what is widely considered one of St Louis’ most vibrant retail nodes. The subject trade area spans roughly 4-miles along Lindbergh between I-270 and New Halls Ferry Rd. and includes approximately 2.4 million square feet of retail development currently 94% leased. The trade area is primarily recognized for having a dense residential population and producing some of the MSA’s highest retail sales volumes.
Tenured Tenancy
The strength of the asset is also evidenced through the tenure of the tenancy, where 4 out of the 6 tenants in the center feature a tenure of over 10-years at this location representing 92% of GLA and 89% of revenue.
Visibility & Accessibility
Florissant Plaza is positioned with full frontage along Lindberg Blvd, sitting at the fully signalized intersection of Lindbergh & Lindsay Ln bringing a combined traffic count of approximately 45,000+ VPD. Additionally, the center features 5 points of ingress/egress.
National Tenancy
The center is comprised almost entirely of category leading national/regional retailers representing 94% of revenue.
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