AT&T | 2340 S 59th St
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AT&T 2340 S 59th St
65,900 SF Industrial Building Saint Louis, MO 63110 $7,055,000 ($107/SF) 5.50% Cap Rate
Investment Highlights
- HIGHLY SECURED LONG-TERM NNN LEASE WITH AT&T, INC (INVESTMENT GRADE CREDIT TENANT)
- RECENT TEN (10) YEAR EXTENSION & THIRTY-FOUR (34) + YEARS OF HISTORICAL OCCUPANCY
- “MISSION CRITICAL” AT&T EMERGENCY REPAIR RESOURCE CENTER SERVICING FIVE (5) STATE RADIUS
- THRIVING "SOUTH COUNTY" ST. LOUIS SUBMARKET - LOW VACANCY & ZERO NEW CONSTRUCTION
Executive Summary
HIGHLY SECURED LONG-TERM NNN LEASE WITH AT&T - RECENT 10 YR. EXTENSION
* Highly Secured Long Term NNN Lease With AT&T Corporate Signature | AT&T (American Telephone and Telegraph Company) is the world’s third largest telecommunications company with 2023 annual revenues of $122.4 billion. AT&T boasts an investment grade BBB (S&P) credit rating creating a highly secured income stream.
* Recent 10 Year Extension & 34 + Years of Historical Occupancy | AT&T has exercised several renewal options throughout their occupancy and recently signed a new ten (10) year extension beginning April 2025 (4/1/25 – 3/31/35) further solidifying their long-term commitment to the site. The lease features attractive 3% annual increases throughout the primary term and two (2) five (5) year options at Fair Market Value with 3% annual increases thereafter providing an excellent hedge against inflation.
* 33% Below Replacement Cost
“MISSION CRITICAL” AT&T EMERGENCY REPAIR RESOURCE CENTER SERVICING FIVE (5) STATES
* Sticky Tenant | The property is a “mission critical” facility which supports AT&T’s infrastructure in the greater region. AT&T has invested over $1.9 billion in wireless and wireline networks in St. Louis alone over the past 5 years demonstrating their commitment to “connectivity across the state”. The subject property is categorized as a “emergency repair resource center” for AT&T.
* Solid Underlying Industrial Real Estate Fundamentals | The building’s immediate proximity to I-44 via the Hampton Ave on/ off ramp (± 0.4 miles) provides AT&T with convenient access to an extensive Interstate network (I-55, I-64, I-70, I-170, etc.) and the greater five state region that the facility supports.
* Location Within Thriving “South County” St. Louis Submarket – Low Vacancy Rate | As of Q3 2024, the South County submarket boasted one of the lowest Industrial vacancy rates of the eleven total submarkets in Greater St. Louis at a rate of only 3.7%. In addition, as of Q3 2024, there were ZERO (0) square feet under construction in the South County submarket. The low vacancy and lack of construction are a testament to the high tenant demand and scarcity of available product in the South County submarket (CBRE Research).
* Highly Secured Long Term NNN Lease With AT&T Corporate Signature | AT&T (American Telephone and Telegraph Company) is the world’s third largest telecommunications company with 2023 annual revenues of $122.4 billion. AT&T boasts an investment grade BBB (S&P) credit rating creating a highly secured income stream.
* Recent 10 Year Extension & 34 + Years of Historical Occupancy | AT&T has exercised several renewal options throughout their occupancy and recently signed a new ten (10) year extension beginning April 2025 (4/1/25 – 3/31/35) further solidifying their long-term commitment to the site. The lease features attractive 3% annual increases throughout the primary term and two (2) five (5) year options at Fair Market Value with 3% annual increases thereafter providing an excellent hedge against inflation.
* 33% Below Replacement Cost
“MISSION CRITICAL” AT&T EMERGENCY REPAIR RESOURCE CENTER SERVICING FIVE (5) STATES
* Sticky Tenant | The property is a “mission critical” facility which supports AT&T’s infrastructure in the greater region. AT&T has invested over $1.9 billion in wireless and wireline networks in St. Louis alone over the past 5 years demonstrating their commitment to “connectivity across the state”. The subject property is categorized as a “emergency repair resource center” for AT&T.
* Solid Underlying Industrial Real Estate Fundamentals | The building’s immediate proximity to I-44 via the Hampton Ave on/ off ramp (± 0.4 miles) provides AT&T with convenient access to an extensive Interstate network (I-55, I-64, I-70, I-170, etc.) and the greater five state region that the facility supports.
* Location Within Thriving “South County” St. Louis Submarket – Low Vacancy Rate | As of Q3 2024, the South County submarket boasted one of the lowest Industrial vacancy rates of the eleven total submarkets in Greater St. Louis at a rate of only 3.7%. In addition, as of Q3 2024, there were ZERO (0) square feet under construction in the South County submarket. The low vacancy and lack of construction are a testament to the high tenant demand and scarcity of available product in the South County submarket (CBRE Research).
Property Facts
| Price | $7,055,000 | Rentable Building Area | 65,900 SF |
| Price Per SF | $107 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1958 |
| Cap Rate | 5.50% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.68/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 18 FT |
| Building Class | C | No. Dock-High Doors/Loading | 3 |
| Lot Size | 3.00 AC | No. Drive In / Grade-Level Doors | 6 |
| Price | $7,055,000 |
| Price Per SF | $107 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 3.00 AC |
| Rentable Building Area | 65,900 SF |
| No. Stories | 1 |
| Year Built | 1958 |
| Tenancy | Single |
| Parking Ratio | 0.68/1,000 SF |
| Clear Ceiling Height | 18 FT |
| No. Dock-High Doors/Loading | 3 |
| No. Drive In / Grade-Level Doors | 6 |
Amenities
- Fenced Lot
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 4049-00-0030-0 | Improvements Assessment | $590,000 |
| Land Assessment | $144,200 | Total Assessment | $734,200 |
PROPERTY TAXES
Parcel Number
4049-00-0030-0
Land Assessment
$144,200
Improvements Assessment
$590,000
Total Assessment
$734,200
zoning
| Zoning Code | J |
| J |
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AT&T | 2340 S 59th St
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