VIEW DRONE VIDEO L 3 CORPORATION C O M M E R C I A L R E A L E S T A T E 620 MARKET STREET FOR SALE OR LEASE. OWN ONE OF THE MOST ICONIC LOCATIONS IN ST. LOUIS, 2 MINUTES FROM THE ARCH AND ONLY STEPS FROM BUSCH STADIUM. IMAGINE THE POSSIBILITIES.
PROPERTYOverview L 3 620 Market Street is at 41,734 square foot, mixed-use building equipped with a lower level and outdoor terrace area. The property was built in 1978, most recently renovated in 2011. The building includes the following special features: 41,734 SF mixed-use building Situated on a total of 0.62 acres (27,000 square feet) Basement is 8,000 SF, restaurant is 8,750 SF, outdoor terrace is 8,614 SF and second floor is 16,370 SF Centrally located in Downtown CBD with easy highway access (Interstates 64, 44 & 55) Highly visible from Busch Stadium and Kiener Plaza Monument and building signage available Divisible 17,000 SF floorplate can accommodate users as small as 4,000 SF Private office entrance with passenger elevator Great window line with excellent views On-site restaurant space with several nearby amenities Zoned commercial 1 loading dock 26 building height Land lease expires July 31, 2073 (57 years); Land rent increases every 5 years by CPI Excellent owner/user opportunity Contact Brokers for pricing and availability
MARKETDescription L 3 Located in a prime real estate location in Downtown St. Louis, 620 Market is nested in the heart of it all: Positioned at the corner of Market and 8th, just steps from Busch Stadium, BallPark Village, Kiener Plaza, CityGarden and the entire Downtown Business District. Some notable facts about Downtown St. Louis include: Since 2005, there has been a 133% increase in residential population in the Downtown Core making it the fastest growing neighborhood in the region. 8,286 residents currently live in the Downtown Core with an overall occupancy rate of 92.9% Downtown remains the region s largest employment center with over 1,600 businesses and over 80,000 employees St. Louis welcomes 23.9 million annual visitors for leisure, conventions, meetings and business travel. Over 4 million visit Busch Stadium. 3 Miles 5 Miles 10 Miles POPULATION 82,982 237,980 744,413 HOUSEHOLDS 37,534 105,008 323,466 AVG HH INCOME $46,949 $45,359 $57,334
LOCATIONOverview L 3 Ballpark Village Completed in 2014, a bustling new dining and entertainment district adjacent to Busch Stadium Ballpark Village - Phase II A pending project that could include residential, office, hotel and/or more retail Arch Grounds 2.4M Annual Visitors S. Broadway Busch Stadium 4M Annual Visitors Clark Ave Cupples Station Eight former warehouses/ factories that were all rehabbed into various mixed-use buildings 620 Market St City Arch River 2015 Currently underway, massive renovations to the Arch grounds that will connect the park directly to Downtown Market Street S. 8th St. Kiener Plaza Beginning in late 2015, a $20 million complete facelift of the existing park America s Center Convention Complex 1.5M Annual Visitors Olive Street 6 new residential/hotel rehabs on Olive St completed, in-progress or planned S. 10th St. 700 Market Building A $40 million renovation completed in 2015, the building is now fully leased by Laclede Gas.
620 MARKET STREET For more information, please contact: DAVID BIALES +1 314 261 7368 david.biales@am.jll.com L 3 CORPORATION C O M M E R C I A L R E A L E S T A T E Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. 2015. Jones Lang LaSalle. All rights reserved.
FINANCIALSummary PROFORMA INCOME Sq. Ft PSF NNN Annual Basement 1 [Available] 8,000 $3.00 $24,000.00 Restaurant [Available] 8,750 $20.00 $175,000.00 Enclosed Outdoor Patio [Available] 8,614 $20.00 $172,280.00 2nd Floor [Available] 16,370 $10.00 $163,700.00 Gross Rent 2 41,734 $534,980.00 Ground Lease Rent $ (144,000.00) Net Rent $390,980.00 1 All estimated rental rates are net of operating expenses 2 100% occupied OPERATING EXPENSES 1 Year 2014 YTD 2015 Management Fee 2,400.00 2,400.00 Repairs & Maint 3,348.08 3,429.80 Utilitites Electric 83,337.00 67,611.00 Utilitites Gas 29,156.00 23,718.00 Utitlies Water 6,853.22 6,511.57 Utilities Sewer 6,608.62 6,414.85 Telephone 4,853.06 3,138.00 Trash (includes recycling/compost) 11,462.00 14,235.00 Property Insurance 16,380.96 13,353.00 Real Estate Taxes 70,107.18 70,364.74 Total Expenses 234,506.12 211,175.96 Other: Land Lease 143,117.55 145,362.32 Legal Fees (CID&TDD) 2,879.00 3,604.00 Total Other 145,996.55 148,966.32 Overall Total 380,502.67 360,142.28 1 OPEX will be reimbursable as NNN pass-throughs excluding the ground lease rent For more information, please contact: DAVID BIALES +1 314 261 7368 david.biales@am.jll.com L 3 CORPORATION C O M M E R C I A L R E A L E S T A T E Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. 2015. Jones Lang LaSalle. All rights reserved.