360 SOLUTIONS, LLC (SAINT LOUIS, MO)

SALE LEASEBACK

1431 KINGSLAND AVENUE, SAINT LOUIS, MO 63133
Price :
$ 7,500,000
Cap Rate :
8.80%
NOI :
$ 660,000
Lot Size :
13.22 acres
Year Built :
1957/1999
Property Area :
440,000 sqft
Status :
AVAILABLE
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• 440,000-Square Foot Warehouse for 360 Solutions, LLC
• 360 Solutions, LLC Will Sign a New 10-Year NNN Lease at Close of Escrow
• 360 Solutions, LLC is a Full Line Auto Core Supplier
• Located in Innerbelt E of 170 Industrial Submarket with a Vacancy Rate of 0.5%
• Situated Three Miles East of I-270 and Five Miles Southwest of I-70
• Below-Market Rents Allow for Upside
• Roof is Well Maintained and 25% was Replaced in 2016

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1431 Kingsland Avenue in Saint Louis, Missouri leased to 360 Solutions, LLC. The subject property consists of approximately 440,000 square feet of space and is situated on 13.22 acres of land. The subject property features below-market rents that allow upside for a new investor upon expiration of the lease. The asset is located in the Innerbelt E of Interstate 170 Industrial submarket with a vacancy rate of 0.5 percent. The property is located three miles east of Interstate 270 and five miles southwest of Interstate 70. The seller reports the asset’s roof is well maintained, with 25 percent replaced in 2016. The building was also renovated in 1999. Tenant 360 Solutions, LLC is committed to execute a new, 10-year triple-net lease upon close of escrow.

Founded in 1992, MCI Cores is one of the largest buyers and suppliers of used automotive parts in the world, providing quality used automotive parts for remanufacturing or direct installation. The company also specializes in the purchase and supply of OEM surplus parts. After starting in a 2,500-square foot building with three employees MCI grew to 50+ employees with over 200,000 square feet of warehouse space. From A/C compressors, alternators, and brake calipers to power steering pumps, rack and pinion assemblies, starter motors, and everything in between, MCI Cores sells to rebuilders, who sell to retailers such as Auto Zone, Advance Auto, and O’Reily’s throughout North America, Europe, and Asia.

In 2013, ACE was formed as a “Bigs Core Supplier,” purchasing big auto parts (engines, transmissions, rear-end assemblies) from auto salvage recyclers and selling them to the automotive aftermarket to be rebuilt. In 2016, 360 Solutions LLC (dba ACE/MCI Commodities) was formed as founders of MCI and ACE merged to become a “Smalls” and “Bigs” core supplier. The combination of these two companies allows them to become a full-line core supplier, leverage purchasing from auto salvage recyclers, and realize many operational efficiencies with 140+ employees.

The St. Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and has more than 2.9 million residents. The metro encompasses the city of St. Louis; the Missouri counties of St. Charles, Jefferson, Franklin, St. Louis, Lincoln, Warren and Washington; and the Illinois counties of Madison, St. Clair, Macoupin, Clinton, Monroe, Jersey, Bond and Calhoun. St. Louis is the most populous county with 1 million people. The city of St. Louis, which is located at the confluence of the Mississippi and Missouri rivers, is the only city in the metro with a population of more than 300,000 citizens. 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.

BROKER OF RECORD
BRAD BARHAM
Missouri Broker of Record
Downtown Chicago Office
Tel: 312-327-5400
Fax: 312-327-5410
Brad.Barham@marcusmillichap.com
License: MO 2013016939
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. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: ZAA0060731)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916
Tyler Sharp
(312) 327-5446
Lic # TX : 177869

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