Long-Term Industrial Sale Leaseback and Expansion Opportunity

146 President Street, St. Louis, MO
Deal Type:
Sale Leaseback
Cap Rate:
Current Rent:
Lease Type:
Triple Net
Renewal Options:
4, 5 Year Options
Building Sq. Ft.:
53,354 SF
Rent Increases:
2.00% Annually
Site Size:
5 Acres

Investment Highlights

  • Long-term (15 year) absolute triple net lease with 2.00% annual escalations
  • Gross Mechanical (the tenant) is an industrial contractor specializing in private sector industrial construction in the refining, petrochemical, pharmaceutical, power, manufacturing, food and beverage, automotive and water treatment sectors
  • The company is a third generation, family-owned business with a long-term operating history of more than 50 years
  • The third generation of the Gross family has strategically expanded the business, increasing value to the existing customer base and reaching new opportunities beyond its current geography
  • Gross Mechanical relocated to the subject property in 2015 to expand fabrication capabilities and efficiencies
  • More than $1.3 million of CapEx has been invested into the facility, including exterior and interior renovations and electrical upgrades
  • In 2017 the company purchased an adjacent 2.5 acre parcel and intends on constructing a new industrial facility to handle increased demand and output; this is a potential expansion opportunity for a landlord/investor
  • Strong Tenant Financial profile with growing revenue and EBITDA trends and sufficient rent coverage
  • The subject facility is located in a strong industrial market with industrial rents rising 6.2% year-over-year, a low vacancy rate of 3.0% and average market rents of $6.19 psf as of 2Q22

Listing Agents

Jeff Lizzo

Senior Vice President
630 222 8409
Daniel Macks STREAM Capital Partners

Daniel Macks

Vice President
847 420 2116

In Association with ParaSell, Inc. | A Licensed Missouri Broker #2019035835


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