St. Louis, MO/December 10, 2016 (STLRealEstate.News) The Corporate Hill offices in St. Louis officially have a new owner, sources reported this week. SARA Investment Real Estate, a commercial real estate investment company based in Madison, Wisconsin, has made its fourth office acquisition in the St. Louis area this month. Bent on being part of the building and real estate revival happening in St. Louis presently, the real estate company keeps snatching off office listings on the market, and expanding their St. Louis real estate portfolio.
SARA Investments last Thursday reported they had closed on the purchase of the Corporate Hill Buildings I, II, and III in west St. Louis County. SARA did not disclose the deal’s terms at this time, however. The Wisconsin firm entered the St. Louis real estate market in 2015 with subsequent purchases of properties in Fenton, Chesterfield, and O’Fallon, Missouri. The company proceeded to set up shop in Chesterfield, and now has a small office in the St. Louis suburb.
The Corporate Hill office buildings now apart of SARA Investments at 1610, 1630, and 1650 Des Peres Road, have a combined 289,380 square feet of space. Current tenants in the buildings include Charter Communications, Bethesda Health Group, KPFF Consulting Engineers, and Gallagher Basett. It is unsure what the new building owner plans to do with their new office acquisition.
SARA Investments is not the first out of state real estate firm to start buying up property and buildings for sale in the greater St. Louis metro region. Residential and professional construction rates are finally back up to pre-recession levels, making real estate prices affordable and soon-to-be-abundant. Out-of-staters are taking notice, and getting in on the action before the inexpensive buildings are off the market. Regardless of who’s buying up the real estate, it’s nothing but a good sign for St. Louis residents for what’s ahead in 2017.
Contributing editor: Alexandra R. Fasulo
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