Baceline Investments, LLC, a boutique private equity real estate investment and management company, has completed the acquisition of Grand Marketplace, a neighborhood shopping center in St. Louis.
The property is the fifth in The Baceline Debt Free Income Fund IV and also marks the latest in a series of real estate acquisitions for Baceline in the central part of the United States.
Built in 2007, Grand Marketplace is located at 1401-1405 N. Grand Blvd., one mile from St. Louis University. Baceline purchased the 9,971-square-foot shopping center for $1.275 million from Koman Properties.
Currently 82 percent leased, the shopping center has a tenant roster that includes City Gear, Boost Mobile and Check ‘n Go, and is shadow-anchored by Walgreens directly across Grand Blvd.