8200 Lindbergh BlvdFlorissant, MO 63031
For Sale
Call for price
High-Occupancy Shopping Center, Strong NOI
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 93
Highlights
- Schnucks, a major grocery chain with $3.2 billion in estimated revenue, anchors the property. They pay a significantly below-market rent of $2.71/SF and have been a tenant for 22 years, recently reinvesting in their space.
- Florissant Marketplace boasts a 98% occupancy rate, with 96% of revenue from national retailers, recovering quickly from a 2020 vacancy.
- The center enjoys a high-traffic location on Lindbergh Blvd (50,000 vehicles/day), within a dense, affluent trade area (90,000 residents within 3 miles, $77,000 average household income).
- Significant upside potential exists due to Schnucks' below-market rent (currently $2.71/SF, market rate $9/SF NNN), despite four 5-year options remaining.
- Limited near-term capital expenditure exposure; most leases include reimbursement clauses, including Schnucks' responsibility for roof repairs (48% of GLA). Recent improvements include parking lot resurfacing, repairs, LED lighting upgrades, and soffit repairs.
- Strong leasing momentum with no lease expirations until January 2026. Recent activity includes 8 renewals (90,537 SF) and 4 new leases (45,820 SF) over the past 3 years. 7 tenants have occupied the space for over 10 years.
Property Details for 8200 Lindbergh Blvd
- Property type
- Lifestyle centers, Power centers
- Square Feet
- 146,257 SF
- Year Built
- 1973
- Lot Size (sq. ft)
- 867,280 SF
Location Insight
- City
- Florissant
- County
- St. Louis
- State
- Missouri
- Latitude
- 38.79011605
- Longitude
- -90.34514385
8200 Lindbergh Blvd, Florissant, Missouri
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