2/14/2008

CBRE arranges $34M sale of Old Town Executive Center in St. Louis

by
Boston, Mass.-based TA Associates Realty has sold the Old Town Executive Center in the St. Louis suburb of Clayton, Mo., for $34 million to locally-based Bruce Development Company.

Kevin Bittmann of CB Richard Ellis represented TA while Bruce Development was represented by Piers Pritchard and Jay Holland of Colliers Turley Martin Tucker.

The 185,000 square foot acquisition is comprised of three office buildings at 150, 165 and 168 Meramec Ave. The property, which sold for $187 per square foot, is currently 100 percent leased to tenants such as Enterprise Bank, NISA Investment Advisors and Stinson Morrison Hecker.

Bittmann is a senior VP of investment properties with CBRE. He joined the firm in 1997 as an investment sales specialist and is a former asset manager with various institutional owners.

Address: 150, 165 & 168 Meramec Ave., Clayton, Mo.

Size: 185,000 square feet

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Filed Under: Office

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