Listing Agency: Intelica CRE e***@intcre.com Show Phone

Listed By: Joel Meyer, SIOR Show Phone

Source: Moodyscre

Added: Jan 1, 2024 Changed: Jul 6 Last Checked: Aug 19 at 1:08PM

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Investment Insights

Based on property information with market context.

This office building in Richmond Heights, Missouri, presents a value-add opportunity. The property benefits from a low Class A vacancy rate of 3.8% and accounts for 25% of total lease transactions in the St. Louis MSA. The area has experienced positive absorption of 412,000 square feet in 2019 and maintains steady investment activity, with over $1.5 billion in new construction recently completed or underway. The property is currently 96% leased at rental rates below market value. There is an opportunity to increase square footage on existing leases by implementing BOMA’s most recent measurement standards. The location is a preferred investment area for institutional capital in the St. Louis MSA, with limited land available for new office construction. The property encompasses 58,249 square feet.

Key Highlights

• Preferred location for institutional capital investment in St. Louis MSA.
• Currently 96% leased at below‑market rental rates.
• Opportunity to increase square footage on existing leases by implementing BOMA standards.

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Grocery & Convenience Store Auto Parts Store Storage Facility Daycare Center (Bike/Boat/Book/etc) Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,048

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Office building in Richmond Heights, Missouri, with value-add opportunity.

Where is this office building located?

The property is located at 7700-7750 Clayton Rd Richmond Heights, MO.

What are key features of this property?

This property features: Preferred location for institutional capital investment in St. Louis MSA.; Currently 96% leased at below‑market rental rates.; Opportunity to increase square footage on existing leases by implementing BOMA standards.