Colliers International, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in Landmark Plaza (“The Property”), a 95% leased, 22,100 square-foot grocery shadow anchored retail strip center situated on 3.07 acres of land in Florissant, MO (St. Louis MSA).
The Property is located within the larger Shackelford Shopping Center anchored by a 50,000 square-foot Schnucks Supermarket, St. Louis’s market-dominant grocer and the largest private grocer in the Midwest with over 110 grocery stores across 5 States.
Positioned at the signalized hard corner of Shackelford Road and Mullanphy Lane, the Property features monument signage and excellent visibility with combined traffic counts of 36,000 vehicles per day and is in the heart of a dense residential area featuring over 52,000 households within a 5-mile radius.
Landmark Plaza benefits from its ideal position directly between McDonald’s and the Schnucks Supermarket, providing continuous vehicle traffic and cross shopping opportunities. The Property is leased to a complimentary mix of Medical and Service-oriented tenants that includes SSM Health, Sally Beauty, China King, and Subway. In addition, Landmark Plaza offers investors a value-add opportunity through the lease up of the last remaining vacant suite comprised of 1,090 square-feet.
Landmark Plaza is anchored by SSM Health (S&P Credit Rating: A+), a leading Catholic, not-for-profit health care system. This location serves as both an Urgent Care and General Internist medical suites for eight doctors. SSM Health has been a tenant at the Property since 1994, and in 2016 expanded and executed a 10-Year lease extension, which features a 6.50% rent increase in September 2021, demonstrating their commitment to the site. SSM Health employs 40,000 people throughout Illinois, Missouri, Oklahoma, and Wisconsin, with 23 hospitals, 290 offices, and sees more than 2 million patients annually.
- St. Louis Retail Portfolio | 62,400 SF | $9,280,000