Monticello Plaza
Retail | 7.75% CAP | 96,921 SqFt
Marketing description
Monticello Plaza is a necessity-based neighborhood center anchored by Ruler Foods (Kroger Credit) and Dollar General. The property is strategically located in Godfrey, Illinois, a submarket of St. Louis, MO, one of the Top 25 MSAs in the United States.
The property is located across Godfrey Road from Lewis & Clark Community College and is positioned less than 2 miles from the interchange of Interstate 255 and Illinois Routes 67 and 111. Godfrey Road has over 21,000 vehicles per day, and the property is 1 mile from a Walmart Center.
The center demonstrates significant leasing momentum with five new leases executed since the beginning of 2024, and Dollar General exercising their option multiple years early with no Landlord concessions. With 80% occupancy and seven vacant spaces totaling 19,375 SF, the property offers value-add lease-up potential at market rates. Additionally, a 0.75 AC outparcel pad is available for Build to Suit or re-sale.
Investment highlights
- Strong National Tenant Lineup
- Necessity-based neighborhood center anchored by:
- Ruler Foods (Kroger Credit)
- Dollar General
- Significant Leasing Momentum in past 24 months
- Five new Leases have been executed since the beginning of 2024
- Dollar General exercised their option multiple years early with no Landlord concessions
- Minimal Risk Exposure with Upside
- 80% occupied with seven vacant spaces (19,375 SF) offering value-add lease-up potential at market rates
- Ruler Foods by Kroger ($3.57/SF) and Dollar General ($4.39/SF) paying below-market rents
- 0.75 AC Outparcel pad available for Build to Suit or re-sale
- Well-Balanced Tenant Mix
- Service-based tenant roster (e.g. grocery, salons, gyms, and restaurants), which are internet-resistant and generate repeat customer visits
- No Tenant represents more than 24% of the GLA, limiting renewal exposure
- Submarket of St. Louis, MO
- Top 25 MSA in the United States
- Proximity to Major Traffic Drivers
- 1 mile from Walmart Center
- Across Godfrey Road from Lewis & Clark Community College, which has a total enrollment north of 5,400 students
- Godfrey Road experiences >21,000 vehicles per day
- Positioned <2 miles from the interchange of Interstate 255 and Illinois Routes 67 and 111
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