Intelica CRE’s Dan Merlo and Joel Meyer recently brokered the sale of a two building office portfolio in Sunset Hills. The properties, located at 9735 Landmark Parkway Drive and 3660 S. Geyer Road, are two high-quality, Class A office assets. Landmark Parkway, a 78,000 SF building, was 60% leased at the time of transaction. Geyer Road, a 53,000 SF building was 85% occupied.
A local investor group acquired this portfolio after a bidding war with two out of state groups. They went in with a strong offer in a competitive situation and ended up edging out the other major players. As for the new owner’s plans, they have already began work on Landmark Parkway, where new lightning, roof, HVAC systems, redesigned common areas and more will be implemented to refresh and transform the space.
“It’s going to be a changed property,” explains Joel Meyer, Vice President of Brokerage.”
Intelica is seeing a push along I-270 south as the market along the I-40 corridor has tightened up a lot. The brokerage team has become quite bullish on South County.
As for the building portfolio, Intelica is handling the leasing and management of both buildings, with a major corporation already interested in leasing up roughly 1/3 of 9735 Landmark Parkway.
View the full write up featured in the St. Louis Business Journal here.