Intelica CRE has recently brokered the sale of The Intertech Building located at 1859 Bowles Avenue in Fenton, MO. The property, formerly owned by Bamboo Equity Partners, was purchased in 2019. Standing at 65,320 SF of office space, and with immediate proximity to Fenton Logistic Park, this property serves as one of the most desirable office buildings in the Fenton Submarket. The property stands at the corner of Bowles Avenue with great visibility from I-44.
With the common area and some exterior renovations completed in 2020, the property was in great condition already. Two lease transactions were in progress just before closing, increasing the occupancy by 37%, bringing to total to 100% shortly after closing.
“We were very pleased to provide our buyer with an immediate increase in value, through a chain of lease transactions occurring just before closing. These transactions created a 100% occupancy scenario for the buyer from the time the property went under contract through closing,” says Joel Meyer, Senior Vice President of Brokerage for Intelica.
Joel Meyer represented Green Mountain Holdings while Dan Merlo represented the seller. For more information about this transaction, contact Joel Meyer or Dan Merlo.