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Commercial Real Estate News
St. Louis
Commercial Real Estate News
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Blue Spruce Holdings Snags 83-Unit Apt. Complex in Branson
Credit: Blue Spruce Holdings Blue Spruce Holdings, a multifamily investor, acquired the 83-unit Holiday Terrace Apartments in Branson, MO for $3.9 million, or about $47,000 per unit. The Edgewater, CO-based firm acquired the two-building community...

Club Fitness to Move Into New Location at Deer Creek Shopping Center
Club Fitness Gym, a locally-based health club, signed a 36,597-sqaure-foot retail lease in the Deer Creek Center at 3200 Laclede Station Road in Maplewood, MO. The center totals 211,100 square feet and is owned and managed by Ramco-Gershenson Properties...

Apartment Conversions in St. Louis Continue with Historic Railway Exchange Bldg.
Pictured: 1.2 million-square-foot Railway Exchange Building at 601-615 Olive St. in Downtown St. Louis Downtown St. Louis has seen a flurry of conversions of unused commercial space into apartments throughout the past several years, a trend punctuated...

National Retail Properties Snags 30,000-SF Big Lots Bldg. in South County
Orlando, FL-based investor National Retail Properties (NYSE: NNN) acquired the 30,000-square-foot Big Lots building at 8563 Watson Rd. in St. Louis. The Florida-based investment firm acquired the property from Minneapolis-based CSM Corp. for $2.7 million...

MRP Strengthens National Value-Add Portfolio with Shoppes at Hawk Ridge Acquisition
Midwest Retail Partners (MRP), a locally-based investor, strengthened its national value-add portfolio with the purchase of the five-building Shoppes at Hawk Ridge in Lake St. Louis. A private investor sold the retail center for $16.5 million, or about...

Kelley Joins Avison Young in St. Louis
Brian Kelley joined Avison Young as a principal in its St. Louis office. In his new role, Kelley will specialize in retail landlord and tenant representation and investment sales transactions, as well as advising clients on acquisitions and dispositions...

CRG Appoints Clark as President
Credit: CRG CRG, a development firm based in St. Louis, has appointed Shawn Clark as president. In his new role, Clark will be oversee CRG’s day-to-day operations, in addition to maintaining an active role in deal structuring, fund and project level...

Storage of America Affiliate Pays $4.3 Million for Two Bldg. Portfolio
SOA Gustine LLC, a Storage of America affiliate, purchased the industrial facility at 4327 Gustine Ave in St. Louis, MO from Gustine Avenue Partnership for $4.3 million, or about $5 per square foot. The sale includes the 655,000-square-foot building...

Carl Icahn Cashing in His Chips on Tropicana Entertainment, Collecting $1.85 Billion
Tropicana Atlantic City Icahn Enterprises agreed to sell its majority-owned subsidiary, Tropicana Entertainment Inc., for a total price of $1.85 billion. The deal will see Tropicana's real estate go to Gaming and Leisure Properties Inc. and its gaming...

Millennial Holdings Picks Up 204,000-SF Clocktower Place Shopping Center for $12 Million
Millennial Holdings, a Lakewood, NJ investment firm, purchased the 204,459-square-foot Clocktower Place in Florissant, MO from Brixmor Property Group for $12 million, or approximately $59 per square foot. The single-story community center was constructed...

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