land for sale - loopnet€¦ · 13j310025 4243 marlin drive 3,942 0.090 14j630555 4239 marlin drive...

LAND FOR SALEDEVELOPMENT OPPORTUNITYSt. Louis, Missouri 63121

JUNE 2017

GWEN KNIGHT(D) +1 314 932 4096(M) +1 314 422 [email protected]

NORTH HANLEY & UNIVERSITY PLACE DRIVE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL | P. 2

Offering Summary pg. 4-8

District & Neighborhood Overview pg. 10-21

Development Potential pg. 23-25Table of Contents

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). (c)2017. All rights reserved.

Section 1 Offering Summary


OFFERING SUMMARY

Colliers International (Colliers) is pleased to present a prime development opportunity in unincorporated St. Louis County near a strong workforce, vibrant student population, excellent public transportation, a significant business park, and St. Louis Lambert International Airport.

On behalf of the owner(s), Geiger–Hanley LLC and Geiger Real Estate, Inc. (“Geiger”), Colliers is offering 11.75 acres located at the southeast quadrant of North Hanley Road and University Place Drive in unincorporated St. Louis County, Missouri, immediately south of I-70 and just four miles east of St. Louis Lambert International Airport. The land area fronts the south side of University Place Drive and the east side of North Hanley Road. A workforce of over 62,000 employees is within a three-mile radius.

The North Hanley MetroLink and bus station, with over 2,900 MetroLink daily commuters, is immediately to the north across University Place Drive. Just east of the subject property are University of Missouri St. Louis (UMSL) with 11,000 students and 2,500 faculty, and the Express Scripts headquarters with approximately 11,500 employees. North Park, with 550 acres, is nearby on North Hanley Road with two buildings south of I-70 and the remaining property immediately north of I-70. Currently within North Park are 2,650,000 square feet of office and industrial space plus a 136-room Hilton Garden Inn hotel with a 9,000-square-foot conference center.

Bi-State Development (Bi-State) (owner of the MetroLink site) and UMSL are cooperating with Geiger to encourage development in the area. To further enhance interest from developers, the subject property is included in a Request for Proposal being submitted jointly by University Square (affiliated with UMSL), Bi-State, and Geiger. The following is a link to the RFP: http://universitysquare-umsl.com/pdf/I-70_NHanley_UniversitySquare_RFP_20170615_Final.pdf

(more on next page)

Offering Overview

HIGHLIGHTS

> 26 parcels combined for a total of 11.75 acres or 511,669 SF

> MetroLink North Hanley Station immediately across the street and just one stop from St. Louis Lambert International Airport, providing access to major attractions such as Busch Stadium, Scottrade Center, Forest Park, Cortex, the Arch, BJC, Washington University and Saint Louis University

> Close proximity to UMSL, Bird Sanctuary, Great Rivers Greenway Trails, St. Vincent Greenway, multiple golf courses, North Park and other business parks

> Located in unincorporated St. Louis County

> Zoned R-5 (St. Louis County)

> Possibility of federal, state and/or local incentives, depending on the scope of development

> Excellent I-70 and I-170 access serving the metropolitan St. Louis area

> Traffic counts approximately 129,000 vehicles per day on I-70 and 126,000 on I-170 according to ESRI

> Over 62,000 workforce, 11,000 UMSL students, 2,500 UMSL faculty and 2,900 daily MetroLink commuters within a three-mile radius

SALE PRICE$2,814,200 ($5.50/SF)

http://universitysquare-umsl.com/pdf/I-70_NHanley_UniversitySquare_RFP_20170615_Final.pdf

http://universitysquare-umsl.com/pdf/I-70_NHanley_UniversitySquare_RFP_20170615_Final.pdf


While the subject property is included within the RFP, it is being offered on a stand-alone basis and is not subject to Bi-State or UMSL approval. The RFP also clarifies that the Geiger property is being offered independent of any such approvals.

The RFP area, which includes the subject Geiger property, was the subject of a recent Urban Land Institute Technical Assistance Panel (TAP), the purpose of which was to obtain independent opinions of real estate professionals as to the development possibilities of the area. The following is a ink to the TAP report, a copy of which is included later in this offering:

http://stlouis.uli.org/wp-content/uploads/sites/51/2012/07/North-Hanley-TAP-report-final.pdf

St. Louis County officials participated in the TAP and are supportive of development in this area. The County has indicated a willingness to consider and, at their sole discretion, grant appropriate incentives for significant projects that contribute to the redevelopment of the area.

As commercial activity continues to grow in North County, the Southeast Quadrant of North Hanley and I 70 offers a valuable opportunity for high-density, mixed-use, transit-oriented development that incorporates uses such as: corporate office; hotel and conference center; commercial; retail; restaurants; quality housing (young professionals, students, multi-generational, seniors); research park; co-working spaces; daycare; and healthcare. Further increasing the site’s accessibility, the project area is served by its own traffic signal at North Hanley and University Place Drive, just south of I-70.

Offering Overview




LOCATOR ADDRESS LOT SIZE (SF) LOT SIZE (ACRES)

13J310773 8656 University Place Drive 6,000 0.13814J541136 8658 University Place Drive 94,090 2.16014J541114 8664 University Place Drive 69,696 1.60013J220683 8704 University Place Drive 9,932 0.22813J220661 8706 University Place Drive 10,000 0.23013J220650 8708 University Place Drive 10,000 0.23013J220421 8718 University Place Drive 9,405 0.21613J220632 8724 University Place Drive 7,841 0.18014J540924 8719 Link Avenue 5,300 0.12214J540933 8731 Link Avenue 8,712 0.20014J540850 4102 N. Hanley 13,504 0.31014J540906 4106 N. Hanley 8,180 0.18814J541169 4120 N. Hanley 82,764 1.90014J541170 4120 N. Hanley (small piece) 12,632 0.29014J541501 4204 N. Hanley 46,609 1.070 14J541499 4220 N. Hanley 28,950 0.66514J541433 4222 N. Hanley 14,352 0.32914J541213 4228 N. Hanley 12,600 0.28913J220397 4230 N. Hanley 9,905 0.22713J220012 4230 N. Hanley (small piece) 4,900 0.11213J220386 4232 N. Hanley 9,870 0.22713J220067 4234 N. Hanley 4,900 0.11213J220375 4236 N. Hanley 8,430 0.19313J310025 4243 Marlin Drive 3,942 0.09014J630555 4239 Marlin Drive 8,395 0.19314J630489 4223 Marlin Drive 10,761 0.247

511,669 11.75

Property Addresses

270

17070

64

44

55

55

255

270

N

SITE


Location

Source: Google EarthN

I-70

I-170

North Hanley RoadNatural Bridge Ave.

Florissant Road

St. Louis Lambert International Airport

SITE

North Park


Geiger Property as of 6-27-2017

Parcel Selected

Sales (Last 2 Years)

June 27, 20170 0.04 0.080.02 mi

0 0.065 0.130.0325 km

1:2,400

Copyright St. Louis County, all rights reservedCreated by: St. Louis County GIS Service Center

Property Aerial

Source: St. Louis County

N

Section 2District & Neighborhood Overview


Area Amenities

NATURAL BRIDGE ROAD St. Louis Lambert International Airport

Hazelwood Commerce Center

North Park

N. HANLEY ROADST. CHARLES ROCK ROAD

SITE

The Crossings at Northwest

Source: Google Earth

N


Demographics

DESCRIPTION 1 MILE 3 MILES 5 MILES

Population 2017 7,418 96,368 293,267

Population Growth 2017 - 2022 0.53% 0.34% 0.06%

Average Age 35.30 36.70 37.80

Total Households 2017 2,951 37,747 118,135

Median Household Income $30,878 $37,559 $39,966

Average Household Size 2.50 2.50 2.40

Median Home Value $65,569 $70,116 $84,048

No. of Businesses 205 2,884 10,174

No. of Employees 12,185 50,417 135,388

Consumer Spending (in thousands) $47,735 $690,040 $2,307,742

Retail

Professional & Management

Information

Financial & Investments

Sales & Office

Services

Production & Manufacturing

Utilities

Construction

Population (Thousands) 0 10 20 30 40 50 60 70

Source: CoStar

CIVILIANS EMPLOYED BY OCCUPATION - 5 MILE


The expansion of commercial and industrial activity along the I-70 corridor provides a valuable opportunity for high-density mixed-use development. Increasing economic and employment growth near the site not only betters the quality of life for residents and students, but provides high caliber opportunities for economic development in St. Louis County.

The close proximity to MetroLink (only one stop from St. Louis Lambert International Airport) and MetroBus maximizes access to public transportation. The proximity to mass transit makes the site ideal for Transit Oriented Development (TOD). Creating quality TOD projects within the service area increases community amenities for the immediate area and for the region as a whole.

The area continues to grow. The North Park Business Center, immediately north of I-70 at North Hanley Road, is a 550-acre business park with over 2,650,000 square feet of office and industrial space; the following projects were completed at North Park within the past few years:

> Express Scripts: An integrated pharmacy benefit management services company. Five buildings. Headquarters in two buildings on the south side of I-70, three buildings north of I-70.

• 315,000 sq. ft. Headquarters

• 200,000 sq. ft. Phase II adjacent to Headquarters

• 230,000 sq. ft. Technology & Innovation Center

• 234,000 sq. ft. Office & Data Center

• 225,668 sq. ft. Office

> SKF: A world leader in rolling bearings and related technologies, including sealing solutions, lubrication systems, mechatronics and services.

• 311,000 sq. ft. state-of-the art manufacturing facility – offices, distribution, manufacturing and assembly operations

> Schnucks: Family-owned grocery company with over 100 stores in five states.

• 1,000,000 sq. ft. distribution facility serving all 100 stores (includes 400,000 sq. ft. of cold storage)

> North Park Business Center One: Multi-tenant flexible building.

• 45,000 sq. ft. (divisible to 9,000 sq. ft.)

> Vatterott College: Vocational school specializing in automotive, trades, medical, business, technology and legal

• 90,000 sq. ft.

> Hilton Garden Inn:

• 136-guest rooms, 9,000 sq. ft. conference center

Growing Economic Development


North Park - 550 Acres

SITE

St. Louis Lambert International Airport

Source: Google Earth

N


Area Information

Source: TAP Report


Area Information

Source: TAP Report

Retail Buildings over 50,000 SF within 3 Miles


Area Information

Source: TAP Report


Area Information

Source: TAP Report

Competition AnalysisStarbucks, Qdoba and Panera


Area Information

Source: TAP Report

Competition Analysis

• Class A Office Space• 3 Mile Radius• Zero space available • There are 8 Class B

Properties in same search area (not shown on map)

• Zero Space Available


Area Information

Source: TAP Report

Competition Analysis

• Class A Office Space• 3 Mile Radius


Area Information

Source: TAP Report

Hotel Analysis

• Hotels within 3 Mile Radius

• Usable Conferencing Facility


Area Information

Source: TAP Report

Surrounding Business Market

Section 3 Development Potential


URBAN LAND INSTITUTE TECHNICAL ASSISTANCE PANEL

In February 2017, University Square Community Development Corporation (USCDC), Bi-State, UMSL, and Geiger hosted an Urban Land Institute (ULI) Technical Assistance Panel (TAP). The TAP consisted of a group of area professionals across various disciplines (banking, planning, real estate, etc.) who gathered input from community stakeholders to develop a vision for the highest and best uses for the project area.

The valuable input provided by St. Louis County officials and the community highlighted the opportunity for economic development aimed at increasing neighborhood walkability and access to goods and services within the community, especially those that could service the needs of the over 11,500 employees at Express Scripts, the businesses at North Park, the over 11,000 students and 2,500 faculty and staff at UMSL, and the daily MetroLink and bus commuters. The over 2,900 daily MetroLink commuters and the numerous bus commuters use the multi-modal Metro station at North Hanley as a key bus and light rail connector node.

The TAP created a series of planning and programming concepts to position the North Hanley/I-70 interchange and University Place Drive as a Campus Gateway for UMSL and its University Place Business, Technology and Research Park.

The following is a link to the ULI TAP report, a copy of which is included in Section 4 of this offering:


Development Potential

Source: TAP ReportCommercial/TOD Concept




Source: TAP Report

Cross-section depicts topographical changes and suggested land use zones

Commercial/TOD/Campus Gateway Concept



Source: TAP Report

Commercial Concept

Colliers International1401 S. Brentwood Blvd.Suite 400St. Louis, MO 63144

+1 314 373 3030

colliers.com/stlouis

land for sale - loopnet€¦ · 13j310025 4243 marlin drive 3,942 0.090 14j630555 4239 marlin drive...

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