Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1015 West Jefferson Street in Vandalia, Illinois, leased to Medline Industries, Inc. The subject property consists of approximately 25,920 square feet of warehouse space and is situated on 1.85 acres of land. The single-tenant asset features excess land for additional parking, masonry construction, two dock-high doors, and a clear height of 11’. Equipped with 400 amps of heavy power, the property contains air circulation systems throughout the building. With close proximity to Interstate 70, the asset sits an hour’s drive from downtown Saint Louis, Missouri.
For over 20 years, the property has been occupied by Medline which recently renewed the lease through August 2027. Founded in 1966 by brothers James and Jon Mills, Medline has grown to become the nation’s largest privately held manufacturer and distributor of healthcare supplies with revenues topping $20 billion. Across North America, the company operates over 50 distribution centers and over 20 manufacturing facilities to supply more than 300,000 products to healthcare professionals globally (Medline). In 2021, Medline received a majority investment from a partnership comprised of Blackstone, The Carlyle Group, and Hellman & Friedman. Medline continues to be led by the Mills family, who remains the single largest shareholder (Blackstone).
The Saint Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population. About 2.8 million people call the metro area home, with Saint Louis hosting over 319,000 residents. Located at the confluence of the Mississippi and Missouri rivers, the metro area encompasses counties in both Missouri and Illinois. The economy of Saint Louis is anchored by the logistics industry, with trade, transportation, and utilities accounting for the largest share of employment. As Saint Louis continues to be a desirable industrial market for investors, a recent report ranked Saint Louis as the tenth industrial market to watch in 2019. The Gateway Arch continues to serve as a major tourist attraction and residents enjoy a high quality of life with a variety of entertainment options.
BROKER OF RECORD
STEVEN WEINSTOCK
Illinois Broker of Record
One Mid America Plaza, Suite 200
Oakbrook Terrace, IL 60181
Tel: 630-570-2200
Steven.Weinstock@marcusmillichap.com
License: IL 471.011175
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAE0370101)
