January 29, 2025
Multi-Tenant Medical Office Hub
Investment Consulting for Medical Building
Address
12400 Olive Boulevard, St. Louis, MO 63141
Building Size
119,612 SF
Project Type
Office
Project Summary
Dr. Michael V. Stock, owner of Ideal Eye Surgery and a renowned provider of LASIK and cataract procedures, has long been a trusted name in eye care across St. Louis MSA. After building multiple office properties in Illinois, Dr. Stock decided it was time to do the same in Missouri. Rather than building a new facility from scratch, he turned to Intelica for guidance. Intelica’s brokers, Drew Clary and Ed Backer, provided strategic insight on an off-market opportunity, eventually leading to the purchase of 12400 Olive Boulevard, The Paragon Building, an ideal fit for his growing practice. The acquisition included plans for significant capital improvements and the potential for future tenants, positioning the building as a premier medical office space in the area.
Capital Improvements
$2M Capital Improvements Planned
The Problem
With several practices already established in Illinois, Dr. Stock was ready to expand into a new market but faced the decision between building a new facility and purchasing an existing property. The rising interest rates and high vacancies in office buildings complicated this decision. Dr. Stock needed expert guidance on navigating these market conditions and finding a location that would support both his current practice and future growth. Additionally, any property he acquired would need to be suitable for major renovations and expansion.