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26 Plaza Dr | Marketplace Shopping Center 26 Plaza Dr 210,489 SF 100% Leased Retail Building Fairview Heights, IL 62208 For Sale
INVESTMENT HIGHLIGHTS
- Marketplace Shopping Center is situated along Hwy 64 (72,600 VPD), allowing for exceptional visibility and site lines to the retail storefronts
- Situated in a Tax Increment Financing District and state-authorized enterprise zone, there are financial incentives to upgrade and better the property
- Property is being offered for sale, unencumbered by existing debt
- Recent lease executed with Home Outlet provides future ownership with surety of cash flow
- The asset features five-mile population counts of approximately 112,944 people with an average household income of $104,864
EXECUTIVE SUMMARY
Atlantic Capital Partners has been exclusively engaged to market for sale Marketplace Shopping Center, a value-add community shopping center located in Fairview Heights, IL. Marketplace Shopping Center is strategically along Hwy 64, which provides direct frontage to the 72,600 vehicles per day and is the main thoroughfare connecting Fairview Heights to St. Louis (15 miles west). The shopping center is designed to cater to a diverse range of consumer needs and is poised for significant growth given its prime location and demographic appeal. Spanning 210,489 square feet, Marketplace Shopping Center is currently 49% leased to 6 retail tenants, with a weighted average lease tenure of 22.5 years and remaining term of 2.9 years. Residing on 19.09 acres, this asset provides future ownership with a substantial value-add investment opportunity through programmatic project leasing or redevelopment, ideally positioned within the St. Louis MSA. The asset is being offered without a formal asking pricing, free-and-clear of existing debt.
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
210,489 SF
Year Built
1987
Percent Leased
100%
Building Height
1 Story
Building FAR
0.25
Lot Size
19.10 AC
Zoning
PB - Planned Business
Parking
981 Spaces (4.66 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03-28.0-200-046 | Improvements Assessment | $853,438 |
| Land Assessment | $474,707 | Total Assessment | $1,328,145 |
PROPERTY TAXES
Parcel Number
03-28.0-200-046
Land Assessment
$474,707
Improvements Assessment
$853,438
Total Assessment
$1,328,145
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26 Plaza Dr | Marketplace Shopping Center | 26 Plaza Dr
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