The retail center, which consists of two separate properties located at 5228 and 5240 South Lindbergh Boulevard, was listed as a portfolio sale. The total square footage of the center is approximately 28,840 sq. ft.
Outback Steakhouse is the primary tenant in the center and will remain on site. The South Lindbergh location is, in fact, the highest grossing location in St. Louis of the steakhouse franchise.
Frank Yocum with Hilliker Corporation represented the seller, NICO Properties I, LLC. In fact, Yocum has a long standing relationship with the seller, having made seven commercial real estate transactions with NICO Properties since 1998. The buyer, DLJ Lindbergh, LLC, was represented by Stephen F. Bahn Commercial Real Estate.
“This deal was a rare opportunity,” Yocum stated. “You don’t see many properties like this in South St. Louis County. Not with the size of the acreage fronting South Lindbergh and certainly not in the retail market for that area.”
After closing the seventh transaction for NICO Properties, Yocum has one remaining listing for his long-term client: 14334-14336 Manchester Rd, Manchester, MO.
The 8,000+/- sq. ft. retail building features a hard corner end cap space of 5,000 sq. ft., is listed for either a sale or lease, and offers great visibility with stoplight access to Manchester Road’s 50,000+ vehicles per day.