Portfolio of 5
Retail | 6,409 SqFt
Marketing description
Northmarq is pleased to present an exclusive opportunity to acquire a portfolio of five Church's Chicken locations across the St. Louis metropolitan area. A single corporate guaranty stands behind all five locations. The master lease is guaranteed jointly and severally by the Church's Texas Chicken corporate parent. At $48,300 per unit, the portfolio's average rent runs roughly 63% below the St. Louis QSR average of $125,652, the same against the Missouri and national averages near $130,000, keeping rent coverage strong and the income protected well below replacement cost.
St. Louis is the 23rd largest metro in the United States with an MSA population home to over 2.8M, the largest in Missouri and the second largest in Illinois. The St. Louis metro economy is unusually diversified, spanning logistics, advanced manufacturing, financial services, bioscience, aerospace and defense, education, and health care. Twenty-two companies on the Fortune 1000, Forbes Global 2000, and Forbes' largest private companies list are headquartered here, including seven Fortune 500 firms. Most notably, Boeing named St. Louis the home of its Defense, Space & Security headquarters, and Centene, the region's largest company, leads the metro with over $194 billion in revenue as the only local firm in the Fortune 500's top 100.
Investment highlights
- CORPORATE GUARANTEED ACROSS PORTFOLIO - A single corporate guaranty stands behind all five locations. The master lease is guaranteed jointly and severally by the Church's Texas Chicken corporate parent. Corporate credit backs the full portfolio's income, rather than a single-store operator.
- UNDER MARKET RENT BY 63% STATEWIDE AND 63% NATIONALLY - At $48,300 per unit, the portfolio's average rent runs roughly 63% below the St. Louis QSR average of $125,652, the same against the Missouri and national averages near $130,000, keeping rent coverage strong and the income protected well below replacement cost.
- A TOP 25 US METRO - St. Louis is the 23rd largest metro in the United States with an MSA population home to over 2.8M, the largest in Missouri and the second largest in Illinois.
- SEVEN FORTUNE 500 HEADQUARTERS - The St. Louis metro economy is unusually diversified, spanning logistics, advanced manufacturing, financial services, bioscience, aerospace and defense, education, and health care. Twenty-two companies on the Fortune 1000, Forbes Global 2000, and Forbes' largest private companies list are headquartered here, including seven Fortune 500 firms. Most notably, Boeing named St. Louis the home of its Defense, Space & Security headquarters, and Centene, the region's largest company, leads the metro with over $194 billion in revenue as the only local firm in the Fortune 500's top 100.
- THREE MAJOR LEAGUE TEAMS AND A NATIONAL PARK - St. Louis supports three major-league franchises whose seasons span the calendar. The Cardinals (MLB), Blues (NHL), and CITY SC (MLS), all play downtown just minutes from Forest Park, home to five major institutions including the free Saint Louis Zoo, Art Museum, Science Center, and History Museum. The recreation runs deeper stil, with championship golf, the 238 mile Katy Trail, entertainment districts like Ballpark Village and Union Station, and nightlife in the Delmar Loop, Soulard, and The Grove, plus Topgolf, casinos, and the City Museum.
- SIX MAJOR PROJECTS | NEARLY $15 BILLION IN CAPITAL - Six major investments are reshaping the metro with nearly $15 billion in capital . Boeing's $1.8 billion North County expansion to build the Air Force's F-47 fighter; the $1.75 billion NGA West campus, the new geospatial intelligence agency headquarters and the largest federal investment in the region's history; a proposed $3 billion consolidation of Lambert International Airport into a single terminal; a $670 million mixed-use redevelopment of the Millennium site by the Gateway Arch; the $1.5 billion Riverpointe riverfront district in St. Charles; and the regional Freightway's $8.9 billion highway, bridge, and freight pipeline.
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