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Shopping Neighborhood

Commerce Plaza

10865 Lincoln Trail, Fairview Heights, IL 62208

Listing Price: $8,500,000

Cap Rate
9.40%
Gross SF
59,346
Rentable SF
59,346
Price/Gross SF
$143.23
Lot Size
5.90 acres
Year Built
1990

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in Commerce Plaza (“the Property”), a 59,386 square-foot shopping center located in Fairview Heights, Illinois (St. Louis, MO MSA).

Commerce Plaza is 100% leased to 4 national tenants including category leading anchor tenants Biolife Plasma Services (NYSE: TAK), Jo-Anns Fabric and Crafts, and the United States Army. Biolife Plasma Services executed a brand new 10-year lease in 2023 bringing the Properties Weighted Average Lease Term remaining to nearly 6-years. The tenants all feature NNN leases providing extremely stable and consistent cash flows for investors.

Strategically located near the intersection of I-64 (90,000 VPD) and Hwy 159 (40,000 VPD), Commerce Plaza is centrally positioned in the heart of the Fairview Heights retail corridor, one of the busiest and well-established retail concentrations in the entire St. Louis MSA. The Property is surrounded by a plethora of investment grade and national retailers including the #1 highest performing Lowe’s in the state of Illinois, #1 Fresh Thyme Market, the 2nd highest performing Aldi’s, Schnucks, Hobby Lobby, Home Goods, Dick’s Sporting Goods, Ulta Beauty, Planet Fitness, T.J. Maxx, and many others. In addition, the Property enjoys cross-traffic from the 750,000 square foot St. Clair Square Super Regional Mall which enjoyed more than 4.8 million visitors in the last 12-months and continuously drives traffic to the immediate area.

Commerce Plaza is located at the signalized intersection of Lincoln Hwy and Commerce Lane featuring pylon signage, excellent road visibility, and convenient access with five ingress/egress points. The Property has been well maintained by ownership and is in good condition. The brick façade provides a modern aesthetic with minimal required upkeep.

The Property is being offered free and clear of debt for an 8.80% cap rate totaling $9,000,000.

Investment Highlights

  • NATIONAL CREDIT TENANCY WITH LONG TERM W.A.L.T. Outstanding Line-Up Of Well Established National Tenants Including Biolife Plasma Services Who Recently Signed A Brand New 10-Year Lease
  • DOMINANT RETAIL CORRIDOR: Fairview Heights' Central Location In The Metro East Region Allows It To Serve As The Local Center Of Retail Trade For All Of Southwestern Illinois For Fifty Miles
  • DENSELY POPULATED LOCATION WITH PROMINENT FRONTAGE/VISIBILITY & CONVENIENT HIGHWAY ACCESS: ¦Strategically Located Near The Intersection Of Interstate 64 (90,000+ VPD) And Highway 159 (40,000+ VPD)
  • TENANT SCARCITY: Commerce Plaza Is Home To The Only Joann's, Biolife Plasma Services, And Party City With A More Than 17-Mile Radius. This Is Each Tenants Only Location In The Metro East Providing Strong Drawing Power From Additional Communities To The East.
  • TRIPLE-NET LEASE STRUCTURES: ¦All Tenants Include Triple Net Lease Structures With Each Tenant Being Responsible For Its Proportionate Share Of Real Estate Taxes, Insurance, And Common Area Maintenance.

Exclusively Listed By

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Shopping Neighborhood

Commerce Plaza

Listing Price: $8,500,000

Cap Rate
9.40%
Gross SF
59,346
Rentable SF
59,346
Price/Gross SF
$143.23
Lot Size
5.90 acres
Year Built
1990

Investment Highlights

  • NATIONAL CREDIT TENANCY WITH LONG TERM W.A.L.T. Outstanding Line-Up Of Well Established National Tenants Including Biolife Plasma Services Who Recently Signed A Brand New 10-Year Lease
  • DOMINANT RETAIL CORRIDOR: Fairview Heights' Central Location In The Metro East Region Allows It To Serve As The Local Center Of Retail Trade For All Of Southwestern Illinois For Fifty Miles
  • DENSELY POPULATED LOCATION WITH PROMINENT FRONTAGE/VISIBILITY & CONVENIENT HIGHWAY ACCESS: ¦Strategically Located Near The Intersection Of Interstate 64 (90,000+ VPD) And Highway 159 (40,000+ VPD)
  • TENANT SCARCITY: Commerce Plaza Is Home To The Only Joann's, Biolife Plasma Services, And Party City With A More Than 17-Mile Radius. This Is Each Tenants Only Location In The Metro East Providing Strong Drawing Power From Additional Communities To The East.
  • TRIPLE-NET LEASE STRUCTURES: ¦All Tenants Include Triple Net Lease Structures With Each Tenant Being Responsible For Its Proportionate Share Of Real Estate Taxes, Insurance, And Common Area Maintenance.

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in Commerce Plaza (“the Property”), a 59,386 square-foot shopping center located in Fairview Heights, Illinois (St. Louis, MO MSA). Commerce Plaza is 100% leased to 4 national tenants including category leading anchor tenants Biolife Plasma Services (NYSE: TAK), Jo-Anns Fabric and Crafts, and the United States Army. Biolife Plasma Services executed a brand new 10-year lease in 2023 bringing the Properties Weighted Average Lease Term remaining to nearly 6-years. The tenants all feature NNN leases providing extremely stable and consistent cash flows for investors. Strategically located near the intersection of I-64 (90,000 VPD) and Hwy 159 (40,000 VPD), Commerce Plaza is centrally positioned in the heart of the Fairview Heights retail corridor, one of the busiest and well-established retail concentrations in the entire St. Louis MSA. The Property is surrounded by a plethora of investment grade and national retailers including the #1 highest performing Lowe’s in the state of Illinois, #1 Fresh Thyme Market, the 2nd highest performing Aldi’s, Schnucks, Hobby Lobby, Home Goods, Dick’s Sporting Goods, Ulta Beauty, Planet Fitness, T.J. Maxx, and many others. In addition, the Property enjoys cross-traffic from the 750,000 square foot St. Clair Square Super Regional Mall which enjoyed more than 4.8 million visitors in the last 12-months and continuously drives traffic to the immediate area. Commerce Plaza is located at the signalized intersection of Lincoln Hwy and Commerce Lane featuring pylon signage, excellent road visibility, and convenient access with five ingress/egress points. The Property has been well maintained by ownership and is in good condition. The brick façade provides a modern aesthetic with minimal required upkeep. The Property is being offered free and clear of debt for an 8.80% cap rate totaling $9,000,000.

Exclusively Listed By

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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