5055 Highway N, Cottleville, MO 63304

Acquisition Date: July 2017
Building Size: 58,338 SF

Property Type: Retail/Office Center
Major Tenants: various local tenants
Occupancy: 94%
Investor Returns: Return on investment to investors currently over 22% annually, exceeding projections (not including property appreciation)

Highlights: This property is a quality asset with high visibility, excellent location in fastest growing county in metro St. Louis, strong demographics and stabilized tenancy. Envision negotiated a below-market acquisition price due to the short remaining term on the existing leases.  Envision believes that the current rents paid by existing tenants are below-market and that the quality of tenants can be improved as the property could attract national tenants.  Envision expects to achieve better returns and take advantage of the upside by increasing base rents, lengthening lease term, and improving the quality of tenants by procuring numerous established regional tenants over the asset holding period.