St. Louis-based Sansone Group purchased Olympic Oaks Village in Des Peres, Missouri, for $22 million.
The retail center, located half-a-mile east of Interstate-270 on Manchester Road, was originally a $5.5 million 7.76-acre commercial development developed by Sansone Group in 1988 on land that was formerly a nursery.
In 1988, the property was sold to DLR Corp., an Ohio-based REIT, for $11.122 million. Sansone Group was retained to lease and manage the center.
Fifth Third Bank signed a ground lease at the site in 2012 and built a new bank on the site of a former Blockbuster Video. In 2014, ALDI signed a 10-year lease for 19,956 square feet at the center. That store is now open.
