Bamboo Equity PartnersTM, a leading private real estate investment firm of office and industrial properties based in St. Louis, has announced the sale of 5531-5555 Phantom Drive in Hazelwood, MO. The industrial/warehouse property is 100% leased to Motor Service Distribution & Service, Inc. and Wellfit Parts International Co.
Located in the Hazelwood/Airport Industrial submarket and in the new St. Louis Opportunity Zone, the property is along the highly trafficked Interstate 270, one of the major arteries of the city and provides excellent access north to south for St. Louis’ workers and commuters.
The 129,000 SF property sold to a publicly traded REIT out of Boston, MA for $5.4 million.
“Located in a vibrant Hazelwood industrial market, we took a building we purchased out of bankruptcy and filled it from 0% to 100%. This was a successful full cycle transaction for our investors with above market, risk-adjusted returns,” explains Alice Benner, Principal and Managing Director of Bamboo Equity Partners.
Intelica CRE’s Gary Parker and Dan Merlo represented the seller, 5531 Phantom LLC, in this transaction. Intelica managed the property while under Bamboo Equity Partners’ ownership and will retain management of the property with the new owner.
Bamboo continues to actively seek investment opportunities throughout the Greater St. Louis area. For more information on Bamboo Equity Partners and investing, please visit bambooequity.com.
Read the St. Louis Business Journal’s article on this successful closing here.