Update: This property is no longer on the market since HFF brokered its sale.
Update: HFF closed the sale of this property. To view current availble commercial real estate listings, please click here.
On behalf of the owner, HFF is marketing Alton Corners Shopping Center for sale. The 50,053-square-foot retail strip center is located in Alton, Illinois, just north of downtown St. Louis, Missouri. Built in 2002, the retail center is home to nine tenants, of which 87.1 percent are nationally-known retailers, including Applebee’s, Fantastic Sam’s, Firehouse Subs, Mattress Firm, Petco and DaVita.
Alton Corners Shopping Center is situated on Homer Adams Parkway, which is part of Illinois Route 3, the primary gateway to St. Louis from Alton. Additionally, Martin Luther King Drive is to the south, and the property’s access point is through Alton Square Mall Drive, which connects to both Martin Luther King Drive and Homer Adams Parkway. This allows Alton Corners Shopping Center to benefit from both highways and be visible to approximately 36,900 vehicles per day. Many residents north of the city travel to St. Louis for work via Alton. Acting as a major thoroughfare, Alton capitalizes on the 131,000 residents living in the northern part of the region.
Strategically located in a major trade area, Alton Corners Shopping Center is near several big box retailers that attract customers from the surrounding region. The retail property for sale is shadow anchored by a Lowe’s Home Improvement just southeast of Alton Corners, which drives traffic to the center. The property also shares parking with an Office Depot. Across Homer Adams Parkway is Target, Home Depot, Kohl’s and the 634,181-square-foot Alton Square Mall.
The shopping center for sale satisfies demand from the surrounding residential communities; it has less retail per capita than many other similar trade areas, which demonstrates a potentially under-served retail consumer base, implying pent-up demand for quality retail in a mature market with significant barriers to new development in the area.
Alton Corners Shopping Center is a retail property for sale near St. Louis, Missouri, with a value-add opportunity for investors. For more information on this commercial property or to schedule a private property tour between August 9 and 11, contact Jules Sherwood in HFF’s Denver office or Jeff Bramson in HFF's Chicago office.