chesterfield grove i confidential offering...
TRANSCRIPT
c o n f i d e n t i a l o f f e r i n g m e m o r a n d u m
CHESTERFIELD
G R O V E I16650 Chesterfield Grove RoadChesterfield, Missouri 63005
Cushman & Wakefield has been retained as the exclusive agent in the sale of Chesterfield Grove I located in Chesterfield, Missouri. Chesterfield Grove I is a
premier Class A office building containing 33,882 square feet.
Exceptional LocationStrategically located along I-64, Chesterfield Grove sits in the heart of St. Louis’ dynamic West County submarket. West County is the largest office submarket in the metropolitan area containing 16.5 million square feet of suburban office product in St. Louis.
Top Performing SubmarketChesterfield has consistently outperformed the entire West County market, absorbing 740,000 square feet over the last three years.
Low Vacancy Class A vacancy in Chesterfield is currently 7.4% and it is projected to be approximately 5% by year end.
New Construction Rental Rate GapConstruction costs continue to increase creating a gap of approximately 20% between current market rental rates and rental rates that are needed to support new construction, providing plenty of room for continued rental growth.
Outstanding Visibility and AccessThe property has outstanding visibility from I-64/US 40, the major east-west interstate route in the metro area.
Strong Credit TenancyApproximately 83% of the property is leased to Brinkmann Constructors, one of the largest general contractors in St. Louis. The property serves as the corporate headquarters for Brinkmann which recently signed a long term lease.
Long-Term Stable Cash FlowsBrinkman Constructors (83% of the total building) has 9.5 years remaining on its lease and a ROFR on the remaining space in the building providing long term stable cash flows.
Proximity to Abundant AmenitiesDirectly west of Chesterfield Grove I lies over 3 million square feet of retail space, including the region’s two premier outlet shopping centers. The Chesterfield trade area exceeds $1 billion in retail sales each year and is home to 47,000 residents and over 2,000 businesses employing over 42,000 people. Restaurant, hotel, and entertainment options are abundant for Chesterfield Grove tenants as there are over 75 dining options and 10 hotels within a three mile radius, and St. Louis’s first Top Golf is currently being developed just north of the property
Investment Highlights
executive summary
Offering Highlights
Chesterfield Grove I
Financial Highlights
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EARTHCITY
ST. CHARLES
ST. PETERS
WELDONSPRING
LAKEST. LOUIS
BALLWIN
CHESTERFIELD
WILDWOOD
ELLISVILLE
BRIDGETON
CLAYTON
RICHMONDHEIGHTS
WEBSTERGROVES
SUNSETHILLS
CRESTWOOD
FENTON
SAINT LOUISCITY
SAINT CHARLESCOUNTY
SAINT LOUISCOUNTY
LADUE
BRENTWOOD
CREVECOEUR
TOWN &COUNTRY
UNIVERSITY CITY
DARDENNEPRAIRIE
WENTZVILLE
CHAIN OFROCKS
MOSCOWMILLS
Local Map
Property Summary
ADDRESS:16650 Chesterfield Grove RoadChesterfield, MO 63005
TOTAL SQUARE FEET: 33,882 SF
YEAR COMPLETED: 1999
MAJOR TENANTS:Brinkmann ConstructorsBlack Knight Origination Technologies
100% Occupancy
$523,586In-Place NOI
Chesterfield Grove
executive summary
CUSHMAN & WAKEFIELD CAPITAL MARKETS
Michael P. HanrahanExecutive [email protected]+1 314 746 0371 Office+1 314 680 9746 Cell
Paul M. HiltonExecutive Director [email protected] +1 314 746 0313 Office+1 314 276 0313 Cell
Jim MosbyExecutive [email protected]+1 314 746 0316 Office+1 314 941 0332 Cell
Connor KaiserFinancial [email protected]+ 1 314 802 9405 Office+ 1 314 703 9576 Cell