Location: St. Louis, Missouri
Suite Count: 178 + Whole Foods
Square Footage: 176,768 + 38,511 retail
Acquisition Date: May 2018
The Orion is an institutional-quality, Class A multi-family asset located in the Central West End, one of St. Louis’ most prestigious and affluent submarkets. Built in 2015, The Orion is an opulent 177-unit, 7-story, midrise rental community, rising above an expansive 38,511 square foot Whole Foods Market.
WHOLE FOODS: The Orion includes 38,511 square feet of retail space leased by Whole Foods, the premier grocery chain in North America recently acquired by Amazon. The Whole Foods lease has a twenty-year term plus 6 five-year term extensions, along with percentage rental income, after a sales threshold is passed. Whole Foods is widely known for selecting prime locations. Its presence in The Orion thus testifies to the desirability of the property.
UNPARALLELED LUXURY: The Orion features magnificent 10-12-foot vaulted ceilings, keyless entry, and heated towel bars, among its many unit amenities. The community boasts a stunning rooftop sundeck that includes a saltwater swimming pool, fireplaces, and fire pits. The building has structured parking and a 24-hour concierge service. In November, The Orion won first place for best multifamily interiors from International Interior Design Association!
GREAT DEMOGRAPHICS: The Orion is home to renters earning on average $260,000 a year per unit. The tenant population includes many physicians from the world class hospital network located within walking distance from The Orion. Given the affluent tenant population, it is not surprising that The Orion provides secured wine lockers in its Euclid Club Room.
PRIME LOCATION: Two highly acclaimed universities – Washington University and St. Louis University – neighbor the property. The Orion is in the heart of an affluent Central West End submarket, bordering the popular Forest Park, and home to many mansions. Adjacent to Central West End is the Cortex District. Founded in 2002, Cortex is the Midwest’s premier innovation hub of bioscience and technology research, development, and commercialization, serving as the anchor of St. Louis’ growing ecosystem for innovative startup programs and established companies.