Avison Young has negotiated the sale-leaseback of a 154,736-square-foot industrial portfolio in the St. Louis market.
The two buildings at 3030 North Highway 94 and 3600 Mueller Street in St. Charles, Missouri, are 100 percent occupied by LMI Aerospace, a leading supplier of structural assemblies, kits and components, and design engineering services to the aerospace industry.
Avison Young Principals Erik Foster and Mike Wilson, based in the company’s Chicago office and leaders of the firm’s national industrial capital markets group, worked in conjunction with Avison Young principal Tim Convy in the firm’s St. Louis office to represent LMI Aerospace, a member of the Sonaca Group. The tenant has occupied the buildings for more than 30 years.
The buyer, AIC Ventures, is an Austin, Texas-based investment fund manager providing capital and real estate solutions to middle-market companies. Financial terms were not disclosed.
LMI Aerospace serves the large commercial airplane, business jet and military aircraft markets.
Since moving into the buildings decades ago, LMI Aerospace has installed critical utilities infrastructure and specialized substructures to accommodate its equipment.