lambert (st. louis) international airport
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EXP DALLAS
214.522.7200
JOE CAPUTO
joe@exp1031.com
BOB MOORHEAD
bob@exp1031.com
property. Brand new construction. Scheduled completion July 2012.
tenant. Lessee: Bridgestone Retail Operations, LLC operates 2,200+ Stores with 22,000 Employees. Lessee is a subsidiary of Bridgestone Corporation, the
world’s largest tire maker - S&P Rated BBB+.
lease structure. Brand new, 15-year , corporate, NNN lease with 6.5% rent increases every 5 years.
location. Along US-67 / N. Lindbergh Blvd. (58,000 Cars / Day) off I-270 (133,241 cars / day). 7 miles from Lambert (St. Louis) International Airport. Major area
retailers include Walgreens, AutoZone, Mattress Firm, Sears, and Starbucks. St. Louis CSA population is 2,878,255, making it the 4th largest CSA in the Midwest
and16th largest in the country. St. Louis is home to 9 Fortune 500 companies which include Express Scripts, Emerson Electric, Monsanto, Reinsurance Group of
America, Ameren, Charter Communications, Peabody Energy, Graybar Electric, and Centene.
EXCLUSIVE OFFERING | $3,950,000 - 6.50% CAP
Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri - St. Louis metro
Lambert (St. Louis) International Airport
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located at 8400 N. Lindbergh Blvd., Florissant, MO by the owner of the Property
(“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller
and Agent make no representations or warranties as to the accuracy of the information
contained in this Offering Memorandum. The enclosed materials include highly confidential
information and are being furnished solely for the purpose of review by prospective
purchasers of the interest described herein. The enclosed materials are being provided
solely to facilitate the prospective investor’s own due diligence for which it shall be fully and
solely responsible. The material contained herein is based on information and sources
deemed to be reliable, but no representation or warranty, express or implied, is being made
by Agent or Seller or any of their respective representatives, affiliates, officers, employees,
shareholders, partners and directors, as to the accuracy or completeness of the information
contained herein. Summaries contained herein of any legal or other documents are not
intended to be comprehensive statements of the terms of such documents, but rather only
outlines of some of the principal provisions contained therein. Neither the Agent nor the
Seller shall have any liability whatsoever for the accuracy or completeness of the
information contained herein or any other written or oral communication or information
transmitted or made available or any action taken or decision made by the recipient with
respect to the Property. Interested parties are to make their own investigations, projections
and conclusions without reliance upon the material contained herein. Seller reserves the
right, at its sole and absolute discretion, to withdraw the Property from being marketed for
sale at any time and for any reason. Seller and Agent each expressly reserves the right, at
their sole and absolute discretion, to reject any and all expressions of interest or offers
regarding the Property and/or to terminate discussions with any entity at any time, with or
without notice. This offering is made subject to omissions, correction of errors, change of
price or other terms, prior sale or withdrawal from the market without notice. Agent is not
authorized to make any representations or agreements on behalf of Seller. Seller shall
have no legal commitment or obligation to any interested party reviewing the enclosed
materials, performing additional investigation and/or making an offer to purchase the
Property unless and until a binding written agreement for the purchase of the Property has
been fully executed, delivered, and approved by Seller and any conditions to Seller’s
obligations hereunder have been satisfied or waived. By taking possession of and
reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 1: COVER
PAGE 2: TABLE OF CONTENTS | DISCLAIMER
PAGE 10-11: LOCATION MAPS
Table of contents | Disclaimer Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
PAGE 4: SITE MAP
PAGE 5-8: AERIAL PHOTOS
PAGE 9: LOCATION OVERVIEW
Disclaimer
REP PHOTO
Listed in association with missouri broker of record: Dutchman Realty, inc. | license #: 1999023010
PAGE 12: DEMOGRAPHICS
SUBJECT PROPERTY PRIOR TO PANDA EXPRESS EXPANSION
Bridgestone Firestone | www.bsro.com
Automotive service is the largest part of Bridgestone Retail Operations, LLC's business, accounting for approximately 50 percent of sales with tire and financial
services making up the rest. Bridgestone Firestone North American Tire manufactures Bridgestone, Firestone, and Dayton truck tires along with tires for virtually
every wheeled vehicle made. Harvey S. Firestone (1868-1938) founded The Firestone Tire & Rubber Company in Akron, Ohio, in August 1900, and started
marketing solid rubber tires for carriage wheels. In the late 1970s the company, in an effort to re-focus its business solely on automotive service and tire sales,
began to phase out the sale of all non-auto related merchandise. Shortly thereafter, in 1981, the Firestone MasterCare Car Service concept was introduced and
established as a premier brand of quality service being delivered to customers in a consistent and distinctive manner. Bridgestone Corporation, founded in 1931 in
Kurume, Japan, purchased Firestone in 1988, transforming the company into the world's largest manufacturer of tires and other rubber products. Bridgestone and
Firestone operations in the Americas were consolidated in 1990 as Bridgestone/Firestone, Inc.
Bridgestone/Firestone, Inc. initiated a series of changes to its corporate structure in December 2001, reorganizing its operations in the Americas under a holding
company, Bridgestone Americas Holding, Inc., and several operating subsidiaries. The largest of these operating subsidiary companies is Bridgestone Retail
Operations, LLC. In 2001 Bridgestone/Firestone also announced its majority ownership stake in Morgan Tire & Auto, Inc. (MTA), then the nation's second largest
independent retailer of tires. Responsibility for MTA was shifted to Bridgestone Retail Operations, LLC following the reorganization of Bridgestone/Firestone.
Today, Bridgestone Retail Operations, LLC and its subsidiaries employ approximately 22,000 teammates in North America. Bridgestone Retail Operations, LLC
consists of more than 2,200 company-owned consumer and commercial stores in the United States as well as the company's own credit card operations. The
store channels include Firestone Complete Auto Care, Morgan Tire / Tires Plus, Expert Tire, Commercial & Farm, and Mark Morris. Today Bridgestone Retail
Operations, LLC operates the largest number of company-owned full-line automotive retail generalist stores in the world.
PRICE: $3,950,000
CAP RATE: 6.50%
NET OPERATING INCOME: $256,698
BUILDING AREA: 8,256+ Square Feet
LAND AREA: 1.64+ Acres
YEAR BUILT: 2012
OWNERSHIP: Fee Simple Interest
OCCUPANCY: 100%
Tenant overview
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Investment overview Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
Projected Lease Expiration: July 2027
Projected Rent Commencement: July 2012
Initial Lease Term: 15-Years, Plus 5, 5 Year Options to Renew
Lessee: BRIDGESTONE RETAIL OPERATIONS, LLC
dba Firestone Complete Auto Care
Rent Increases: 6.5% Increase After Every 5th Year
Year 1-5 Annual Rent (Current): $256,698
Lease Type: NNN; No Landlord Responsibilities After Year 1
Year 6-10 Annual Rent: $273,383
Year 11-15 Annual Rent: $291,153
Year 16-20 Annual Rent (Option 1): $310,078
Year 21-25 Annual Rent (Option 2): $330,233
Lease overview
Year 26-30 Annual Rent (Option 3): $351,699
Year 31-35 Annual Rent (Option 4): $374,559
Year 31-35 Annual Rent (Option 5): $398,905
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SITE MAP Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
N
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Aerial photo Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
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Aerial photo Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
N
Lambert International Airport
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Aerial photo Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
N
Missouri River
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Aerial photo Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
N
IMMEDIATE TRADE AREA
Bridgestone/Firestone is a retail pad located along US Highway 67 / North
Lindbergh Boulevard (18,580 Cars / Day) 0.25 miles south of West Washington
Street and approximately 1.5 miles north of I-270 (133,141 Cars / Day). Initially a
bypass of St. Louis, today US Hwy 67 / N Lindbergh Blvd is the main thoroughfare
serving the city of Florissant. The road bisects the city and connects I-70 south of
the St. Louis-Lambert International Airport to MO Route 367, a north-south business
parkway that connects I-70 to US Hwy 67 through downtown St. Louis. The only
vehicular tunnel in Missouri is located on Lindbergh Blvd at St. Louis-Lambert
International Airport, where the road tunnels under the runways. As Florissant is a
primarily residential city, the vast majority of the city’s retail is located within a city
block of US Highway 67 / N Lindbergh Blvd.
The subject property is on the east side of the roadway adjacent to an AutoZone
and across from O’Reilly Auto Parts and Burger King. The site is less than a mile
from Old Saint Ferdinand Shrine, a historic site consisting of four 19th century
buildings at the center of Fleurissant, the original 1767 French settlement for which
modern Florissant is named. Today the site is an international draw for businesses
seeking retreat, meeting, and small convention space. Major retailers in the area
include Walgreens, Sears, Mattress Firm, IHOP, Starbucks, and Outback
Steakhouse.
FLORISSANT AND ST. LOUIS COUNTY, MISSOURI
Originally settled in the late 18th century, the rich farmland of historic Florissant,
Missouri is today a northern inner-ring suburb of St. Louis with a population of
52,158. Florissant’s location at the intersection of I-270 (133,141 Cars / Day) and I-
170 (26,855 Cars / Day) make the area prime real estate for quick access to
downtown St. Louis, St. Louis’s numerous suburbs, and the Missouri countryside.
The city is located 2-miles north of the St. Louis area’s principal airport, the St.
Louis-Lambert International Airport, which serves 12.3 million passengers
annually. The 1.25 million SF Jamestown Mall is located in Florissant off N Lambert
Boulevard. This mall is anchored by Macy’s and JC Penney and includes tenants
such as Finish Line, Foot Locker, and Lens Crafters.
St. Louis County borders the City of St. Louis, which is independent from St. Louis
County. The 2010 United States Census put the county population at 998,954,
which is more than three times the size of its adjoining, namesake city. The county
has one of the lowest crime rates in the United States. The unemployment rate for
St. Louis County remains below that of the metropolitan area, and the county
contains about one-fourth of all the jobs in the State of Missouri and about half the
jobs in the St. Louis Metropolitan Area.
GREATER ST. LOUIS COMBINED STATISTICAL AREA
The Greater St. Louis combined statistical area (CSA) population of 2,878,255 is
the 4th largest in the Midwest and the 16th largest CSA in the country. According to
the 2007 United States Economic Census, manufacturing is the primary industry in
the city with nearly $11 billion in business, followed by the healthcare and social
service industry with $3.5 billion each, professional or technical services with $3.1
billion, and retail with $2.5 billion. The sector employing the largest number of
workers in the city is the healthcare sector (34,000 workers), followed by
administrative and support jobs (24,000 workers), manufacturing (21,000 workers),
and food service (20,000 workers).
As of 2011, the St. Louis area is home to nine Fortune 500 companies: Express
Scripts; Emerson Electric; Monsanto; Reinsurance Group of America; Ameren;
Charter Communications; Peabody Energy; Graybar Electric; and Centene. Other
notable corporations in the area are Cassidy Turley, Edward Jones Investments,
ATT Communications, Scottrade, Wells Fargo Advisors (formerly A.G. Edwards),
Energizer Holdings, Furniture Brands International, Post Holdings, Inc., United Van
Lines, Mayflower Transit, Ralcorp, Hardee's, and Enterprise Holdings (parent
company of several car rental companies). Significant healthcare and biotechnology
institutions with operations in St. Louis include Pfizer, the Donald Danforth Plant
Science Center, Solae Company, Sigma-Aldrich, and Multidata Systems
International. Although it was purchased by Belgium-based InBev, Anheuser-Busch
continues its historic presence in the city, as does Mallinckrodt Incorporated in spite
of its purchase by Tyco International. The May Department Stores Company (which
consists of Famous-Barr and Marshall Field's stores) was purchased by Federated
Department Stores, but Federated maintains its regional headquarters in the area.
General Motors continues to produce railroad cars in the St. Louis area, although
Chrysler closed its production facility in the region, which was located in Fenton,
Missouri. Despite its purchase by Nestle, Ralston Purina remains headquartered in
St. Louis as a wholly owned subsidiary. St. Louis is also home to Boeing Phantom
Works (formerly McDonnell-Douglas). In addition, the Federal Reserve Bank of St.
Louis, downtown, is one of two federal reserve banks in Missouri.
St. Louis’s location at the confluence of the Missouri and Mississippi Rivers makes
the region of strategic importance to the movement of goods, especially bulk
commodities such as grain, coal, salt, chemicals, and petroleum products, within the
United States. The Port of St. Louis is the third-largest inland port by tonnage in the
United States, and the 21st-largest of any sort. St. Louis is also a major railroad
and trucking hub for the Midwestern United States.
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Location overview Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
10
Location map Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
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Location map Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
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Demographics Bridgestone / firestone
8400 North Lindbergh Boulevard, Florissant, Missouri
Demographic snapshot
DOWNTOWN ST LOUIS, MISSOURI
LAMBERT-ST. LOUIS INTERNATIONAL AIRPORT
Radius 1 Mile 3 Mile 5 Mile
Population:
2016 Projection 12,933 88,743 176,377
2011 Estimate 13,278 90,598 179,112
2010 Census 13,423 91,389 180,145
Growth 2011-2016 -2.60% -2.00% -1.50%
Growth 2010-2011 -1.10% -0.90% -0.60%
2011 Households:
2016 Projection 5,572 35,897 70,431
2011 Estimate 5,711 36,532 71,234
2010 Census 5,780 36,866 71,651
Growth 2011-2016 -2.40% -1.70% -1.10%
Growth 2010-2011 -1.20% -0.90% -0.60%
Owner Occupied 3,781 25,797 49,479
Renter Occupied 1,930 10,735 21,756
2011 Avg Household Income $60,255 $62,523 $62,414
2011 Med Household Income $50,882 $52,422 $51,304
2011 Per Capita Income $26,144 $25,378 $25,033
2011 Households by Household Inc:
Income Less than $15,000 528 2,880 6,797
Income $15,000 - $24,999 611 3,531 7,337
Income $25,000 - $34,999 695 4,342 8,197
Income $35,000 - $49,999 946 6,207 12,005
Income $50,000 - $74,999 1,317 8,745 15,752
Income $75,000 - $99,999 771 5,478 10,043
Income $100,000 - $149,999 679 4,083 8,131
Income $150,000 - $199,999 126 863 2,045
Income $200,000+ 36 403 928
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