Jack in the Box Ground Lease
Saint Ann, MO
| Price | $2,046,000 |
| Cap Rate | 5.50% |
| NOI | $112,500 |
| Lease Term | 10 Years |
| Lease Type | Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof & Structure |
| Rental Increases | CPI-Based Rental Increases, Not to Exceed 10%, Every Five Years |
| Year Built | 1998 |
| Building Size | 3,000 SF |
| Lot Size | 0.88 Acres (28,463 SF) |
| Status | Under Contract |
| Lead Broker Information | Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN GROUND LEASE
» No landlord management, ideal for an out-of-area investor
» Long-term operating history since 1998, plus recent 10-year lease extension, demonstrating commitment to the location
HIGH-TRAFFIC LOCATION WITH EASY FREEWAY ACCESS
» Excellent visibility and access to 44,540 vehicles per day directly in front of the property on Saint Charles Rock Road
» Immediate access to on- and off-ramps for U.S. Highway 67 (43,800 AADT)
» Close proximity to Interstate 70 (166,223 AADT)
OUTPARCEL TO THE CROSSINGS AT NORTHWEST
» Mixed-use commercial center with a 12-story office tower, big box stores, offices, restaurants, and other retailers
» Home to the busiest Raising Cane’s restaurant in the St. Louis region, which is located next to the property
» Future location of Save-A-Lot’s corporate headquarters
» Houses over 3,000 employees and has a $328 million economic impact on the region
CENTRAL ST. LOUIS LOCATION WITH ROBUST DEMOGRAPHICS
» Adjacent to St. Louis Lambert International Airport, the largest and busiest airport in Missouri
» Minutes from SSM Health DePaul Hospital (476 beds and 3,000 employees)
» Near several major employers, including Boeing (14,000 employees), Enterprise Holdings (5,500 employees), and Express Scripts (5,323 employees)
» Across from Holman Middle School and Early Childhood Program (827 students)
» 180,947 residents live and 175,809 daytime employees work within a five-mile radius
Property Description
The property is conveniently located on Saint Charles Rock Road, with excellent visibility and access to 44,540 vehicles per day directly in front of the property. On- and off-ramps for U.S. Highway 67 (43,800 AADT) are immediately accessible, and Interstate 70 (166,223 AADT) is nearby. Located in a dense retail and commercial corridor, the property is close to several large shopping centers and national tenants, including Home Depot, Walmart Supercenter, Lowe’s, Dollar Tree, Big Lots, and more. The property is outparcel to the Crossings at Northwest, a mixed-use commercial center with a 12-story office tower, big box stores, offices, restaurants, and other retailers. Notable retailers in the center include Menards, Value City Furniture, and the busiest Raising Cane’s restaurant in the St. Louis region, which is located next to the property.
Centrally located in a busy commercial region, the property is close to many large employers and important community amenities and is supported by a strong customer base. The Crossings at Northwest is home to several large offices, including a Charter Communications call center and a number of offices for St. Louis County. Recently, Save-A-Lot announced that it would be moving its corporate headquarters to the Crossings at Northwest. Once Save-A-Lot moves in, the Crossings—which St. Louis County officials tout as having a $328 million economic impact on the region—will be 90% occupied and will have over 3,000 employees. In addition, several other major employers are located within a few miles of the property, including Boeing (14,000 employees), Enterprise Holdings (5,500 employees), and Express Scripts (5,323 employees). In total, 175,809 daytime employees work within five miles of the property. Also nearby are important community amenities—like SSM Health DePaul Hospital (476 beds and 3,000 employees) and St. Louis Lambert International Airport—and notable developments, such as the $68 million multi-purpose ice sports facility that will serve as a practice facility for the National Hockey League’s St. Louis Blues.
