Alorica
St Joseph, MO
| Price | $7,237,000 |
| Cap Rate | 7.75% |
| NOI | $560,844 |
| Lease Term | 13 Years |
| Lease Type | Net, with Tenant Responsible for All Taxes, Insurance, and Maintenance. |
| Rental Increases | Annual Rental Increases |
| Year Built | 2003 |
| Building Size | 107,236 SF |
| Lot Size | 14.71 Acres (640,768 SF) |
| Status | Available |
| Lead Broker Information | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NET LEASE WITH RARE ANNUAL RENTAL INCREASES
» Net lease to growing business process and customer satisfaction outsourcing solutions provider with minimal landlord management
» Rare annual rental increases, providing a hedge against inflation
» Two (2) option periods of five (5) years each
» Alorica is the world’s largest provider of customer experiences to North American consumers
» Alorica serves more than 200 major clients worldwide, including four of the top five wireless providers, half of Fortune 50 healthcare companies, and four of the world’s largest car manufacturers (visit alorica.com for more information)
EASILY ACCESSIBLE AND HIGH-TRAFFIC LOCATION IN POPULOUS MISSOURI SUBMARKET
» 74,820 residents within a five-mile radius of the property
» High-visibility location on Pickett Road and along Interstate 29 (combined 37,629 AADT)
» Central location at the confluence of highly trafficked Missouri thoroughfares, including U.S. Route 36, U.S. Route 169, and Interstate 229 (combined 34,111 AADT)
» Projected 12 percent average annual household income increase within a one-mile radius of the property in the next five years, poising Alorica and St. Joseph for significant concurrent growth
CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» Two miles from Missouri Western State University (5,413 students)
» Five miles from St. Joseph’s largest employer, Mosaic Life Care at St. Joseph Medical Center (352 beds, 4,072 employees, $1.3 billion in total patient revenue)
» Beneficial proximity to St. Jo Frontier Casino (generated $30+ million in local government revenue since opening)
» Gateway to Kansas (five miles from Kansas border)
BENEFICIAL LOCATION ON LARGE LOT
» Large 14.71-acre lot
» Ample on-site parking
» $250,000 being held for parking lot improvements
Property Description
The property has an easily accessible location on Pickett Road, just off of Interstate 29 (34,142 AADT). The site maintains a central location at the confluence of highly trafficked Missouri thoroughfares, including U.S. Route 36, U.S. Route 169, and Interstate 229 (combined 34,111 AADT). The site benefits from its location in a populous area, with 74,820 residents living within a five-mile radius of the property. With a projected 12 percent average annual household income increase within a one-mile radius of the property in the next five years, Alorica and St. Joseph are poised for significant concurrent growth.
The property benefits from its central location near multiple large employers and community hubs. Visibility is increased by the property’s location near St. Joseph’s largest employer, Mosaic Life Care at St. Joseph Medical Center, which features 352 beds, 4,072 employees, and generates $1.3 billion in total patient revenue. The site maintains a beneficial proximity to St. Jo Frontier Casino (generated $30+ million in local government revenue since opening), and Missouri Western State University (5,413 students). The property resides within five miles of the Missouri/Kansas border, significantly increasing traffic to the site.
