Lincoln Crossing

Highlights:

• DOMINANT ANCHOR TENANT This property benefits from a strong anchor tenant, PetSmart, which has recently extended its lease term through 2037, providing long term stability to the center. PetSmart occupies 59.6% of the gross leasable area (GLA) and contributes 53.3% of the total tenant income, underscoring its pivotal role in the property’s financial performance. This is a high performing store with annual sales of $9.4M equating to a 3.7% occupancy cost. With such a significant presence, this anchor tenant not only ensures reliable revenue but also attracts foot traffic, further enhancing the overall value of the property.
• BELOW MARKET INLINE TENANTS | MARK-TO-MARKET OPPORTUNITY Lincoln Crossing has several tenants currently paying below market rents that expire between 2026 and 2029. These expirations provide an opportunity to re-lease the spaces at highly accretive spreads. An investor has a current top line Mark-to-Market opportunity equal to 23.39%.
• UNMATCHED SHADOW ANCHOR DRAW Shadow-anchored by national traffic drivers including Walmart Supercenter, The Home Depot, Sam’s Club and Academy Sports, the subject offering benefits from significant cross-traffic. According to Placer.ai data, it features a Sam’s Club that ranks in the top 20% nationwide, attracting over 2.1 million visits annually, alongside a Walmart that is in the top 25%, with more than 2.6 million visits each year.
• RECENT RENOVATIONS AND CAPITAL PROJECTS | MINIMAL FUTURE CAPITAL EXPENDITURES Ownership has completed several major renovations and capital projects in recent years, including the construction of the adjacent Academy Sports box, a new roof over the PetSmart box, and new roofs over the shop spaces. Ownership also recently completed a paving project and retention pond work. An investor will enjoy minimal ongoing capital expenditures thanks to the center’s recent construction and long-term roof warranties. Some leases allow for reimbursement of amortized capital expenditures through CAM recoveries
• DOMINANT LOCATION WITH PHENOMENAL ACCESS & VISIBILITY Located off Highway 50 (19,000 VPD), one of the main thoroughfares serving Fairview Heights and the surrounding communities, Lincoln Crossing receives tremendous visibility and is easily accessible via a fully signalized main entrance along Highway 50. The center features three points of ingress and egress via Highway 50 plus two additional access drives via the Home Depot parking lot. Furthermore, Lincoln Crossing has a highly visible monument sign along I-64 (78K VPD) and benefits from its location adjacent to the I-64 exit ramp, providing outstanding access to a local and regional consumer base throughout the entire St. Louis MSA and beyond.

Description:

Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 100% fee simple interest in Lincoln Crossing, a 100% leased community center located in the rapidly growing eastern suburbs of St. Louis.

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