Stanton Road Capital, a Los Angeles-based investment management firm, has purchased the Deloitte Building in St. Louis at 100 S. 4th Street. Norfolk, Virginia-based Harbour Group International sold the 12-story building on an off-market basis; the sale price was not disclosed, but the St. Louis Business Journal noted that Harbor Group originally purchased the property in 2005 for $26.3 million.
"Our recent purchase of the Deloitte Building is consistent with our investment strategy to acquire value-add office properties in submarkets with improving leasing fundamentals," said Tim Ronan, founder and managing partner of Stanton Road Capital. "We believe the property will continue to retain and attract high-quality tenants due to its efficient floor plates, unobstructed views and nearby amenities including Busch Stadium, Ballpark Village and the CityArchRiver project."
Developed in 1987, the 12-story property was designed by St. Louis-based HOK and originally occupied by MCI WorldCom, according to a GlobeSt report. The property has since been converted to a multi-tenant building and was 100% leased at the time of acquisition by both national and regional tenants including Deloitte, Polsinelli and BMO Harris Bank.
For more news and information visit Blumberg Partners.
No comments:
Post a Comment