CBRE has arranged the $6 million sale of a 65,900-square-foot industrial property located at 2340 59th Street in St. Louis, Missouri. CBRE’s Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo and Brian Bush represented the seller, MacHom Com St. Louis LLC, in the transaction.
The property is located in the South County submarket of St. Louis and is fully leased to a global telecommunications company. Built in 1962, the property has been home to the telecommunications company since 1990 and features 15 dock doors, 18’ clear height and secure, gated entry points.
“This property was sold to a 1031 Exchange Buyer that purchased all-cash,” said Foley. “This investor sought to acquire an industrial asset leased to a credit tenant with ideally 10 years of remaining lease term that is located in a business-friendly state and that required minimal management responsibilities—and our building checked all five of these boxes.”
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