Colliers International recently closed the $22.8 million sale of a single-tenant, NNN leased property located within the Owen Ridge Business Park in Webster Groves, Mo.
Representing the seller, Owen Ridge Associates, LLC, Colliers negotiated the sale terms for an about 90,000-square-foot research and development facility at 381-385 Marshall Avenue.
According to Colliers research, the total transaction dollar amount is the largest St. Louis has seen year-to-date for a single tenant, NNN leased office property sale. Colliers’ St. Louis brokerage team included Steve Tharpe, Gwen Knight and Spencer Toder.
The Kase Group, an affiliate of Sperry Van Ness based in Northern California, represented the buyer, American Realty Capital, a New York-based, full-service investment advisory firm.
Adjacent to St. Louis’ historic Webster Groves neighborhood, Owen Ridge Business Park is a 32-acre campus which caters to office, technology and services tenants in the region. The campus includes a mix of single-tenant and multi-tenant buildings.
