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Office Warehouse

Electro Plastics, Inc

11147 Dorsett Rd, Maryland Heights, MO 63043

Listing Price: $3,275,000

Cap Rate
7.47%
Gross SF
34,940
Price/Gross SF
$93.73
Lot Size
2.41 acres
Year Built
2009
Rentable SF
34,940

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 11147 Dorsett Road in Maryland Heights, Missouri, leased to Electro Plastics, Incorporated. The subject property consists of approximately 34,940 square feet of industrial space and is situated on 2.41 acres of land. The asset comes equipped with a full shower and elevator, and features the tenant’s own innovative STEP Warmfloor heating system designed to reduce heating costs. The property serves as the headquarters for Electro Plastics where STEP Warmfloor is manufactured and distributed throughout the United States and globally by official partners. Aired on the Public Broadcasting System, The New Home Show presented STEP Warmfloor the 1997 Most Innovative Product Award (warmfloor.com). The asset is located within the relatively large Westport submarket containing about 15.5 million square feet of industrial space. At 4.2 percent, the vacancy rate remains unperturbed by the recent economic upheaval and has actually fallen slightly over the past four quarters. Net absorption over the past year clocked in at about 47,000 square feet as rents increased by 1.6 percent during that time. With no projects under construction, there are no supply-side pressures on vacancy or rent in the near-term. Moreover, the inventory has actually contracted over the past 10 years, as demolition activity has outpaced new construction (CoStar.com). The St. Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and has more than 2.9 million residents. The metro encompasses the city of St. Louis; the Missouri counties of St. Charles, Jefferson, Franklin, St. Louis, Lincoln, Warren and Washington; and the Illinois counties of Madison, St. Clair, Macoupin, Clinton, Monroe, Jersey, Bond and Calhoun. St. Louis is the most populous county with 1 million people. The city of St. Louis, which is located at the confluence of the Mississippi and Missouri rivers, is the only city in the metro with a population of more than 300,000 citizens. As Saint Louis continues to be a desirable industrial market for investors, a recent report ranked Saint Louis as the tenth industrial market to watch in 2019.

Investment Highlights

  • Strong Submarket with a 4.2% Vacancy and 1.6% Rent Growth Y-o-Y
  • Innovative STEP Warmfloor Heating System Keeps Heating Cost Low Throughout Building
  • This is the Manufacturing Hub for STEP Warmfloor Radiant Heating

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    (314) 889-2500

    License(s) MO: 2013016939

    Missouri

Financing By

Listing Price: $3,275,000

Cap Rate
7.47%
Gross SF
34,940
Price/Gross SF
$93.73
Lot Size
2.41 acres
Year Built
2009
Rentable SF
34,940

Investment Highlights

  • Strong Submarket with a 4.2% Vacancy and 1.6% Rent Growth Y-o-Y
  • Innovative STEP Warmfloor Heating System Keeps Heating Cost Low Throughout Building
  • This is the Manufacturing Hub for STEP Warmfloor Radiant Heating

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 11147 Dorsett Road in Maryland Heights, Missouri, leased to Electro Plastics, Incorporated. The subject property consists of approximately 34,940 square feet of industrial space and is situated on 2.41 acres of land. The asset comes equipped with a full shower and elevator, and features the tenant’s own innovative STEP Warmfloor heating system designed to reduce heating costs. The property serves as the headquarters for Electro Plastics where STEP Warmfloor is manufactured and distributed throughout the United States and globally by official partners. Aired on the Public Broadcasting System, The New Home Show presented STEP Warmfloor the 1997 Most Innovative Product Award (warmfloor.com). The asset is located within the relatively large Westport submarket containing about 15.5 million square feet of industrial space. At 4.2 percent, the vacancy rate remains unperturbed by the recent economic upheaval and has actually fallen slightly over the past four quarters. Net absorption over the past year clocked in at about 47,000 square feet as rents increased by 1.6 percent during that time. With no projects under construction, there are no supply-side pressures on vacancy or rent in the near-term. Moreover, the inventory has actually contracted over the past 10 years, as demolition activity has outpaced new construction (CoStar.com). The St. Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and has more than 2.9 million residents. The metro encompasses the city of St. Louis; the Missouri counties of St. Charles, Jefferson, Franklin, St. Louis, Lincoln, Warren and Washington; and the Illinois counties of Madison, St. Clair, Macoupin, Clinton, Monroe, Jersey, Bond and Calhoun. St. Louis is the most populous county with 1 million people. The city of St. Louis, which is located at the confluence of the Mississippi and Missouri rivers, is the only city in the metro with a population of more than 300,000 citizens. As Saint Louis continues to be a desirable industrial market for investors, a recent report ranked Saint Louis as the tenth industrial market to watch in 2019.

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    (314) 889-2500

    License(s): MO: 2013016939

    Missouri

Financing By

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