Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire 100 percent fee simple interest in Alliance Plaza, (“The Property”), a 9,800 square foot “Medtail” strip center located in High Ridge, MO (St. Louis MSA). Built in 2006, the Medical based strip center is 100 percent leased to three tenants on an oversized 1.37-acre site in the Southwest suburbs of St. Louis. Located immediately off state route 30, Alliance Plaza features excellent frontage and visibility along the trade area’s main arterial thoroughfare with impressive daily traffic counts of nearly 50,000 Vehicles Per Day. The Property is strategically placed at the juncture to the main throughway and surrounding dense residential neighborhoods with a population of 76,000 within a five-mile radius and average household incomes of $97,000. Alliance Plaza has a long-standing track record of maintaining high occupancy levels, 86 percent of the Year-one Revenue is tied to leases that commenced more than 10 years ago and is composed entirely of medical (86 percent) and service (14 percent) based, e-commerce resistant retail uses. High Ridge Family Medical Center is the Property’s largest tenant and currently occupies 4,800 square feet, which accounts for 49 percent of the GLA and 32 percent of the base-rent. High Ridge Family Medical Center has been a tenant at the Property for nearly a decade and just recently extended their lease for an additional six years. High Ridge Family Medical Center is a part of COMTREA health network, the prominent non-profit healthcare organization with 18 locations, 20,000 patients, and over 45 years of experience in Jefferson County. This location specializes in primary care and behavioral health consultations. The Property’s second largest tenant is Advantage Veterinary Center, High Ridge’s and the surrounding area’s most prominent animal specialist. Advantage has been a tenant at the Property since 2008 and recently signed a 10-year lease extension which runs to 2031. Both tenants have renewed and expanded several times with significant capital invested into their space demonstrating their commitment and success at the site and creating an extremely sticky tenant base. The Property’s third and final tenant is LendNation, one of the leading providers of money services and small personal loans, with over 300 locations. LendNation just renewed their lease at the beginning of 2023. All-tenants include triple-net leases which provides full recapture of taxes, insurance, and common area maintenance expenses. The Landlord benefits from ease of management with only three national tenants, long-term historical tenancy, favorable lease structures and strong real estate. The Property is being offered free and clear of debt at a 7.17 percent cap rate totaling $3,100,000.