December 19, 2018
Avison Young has negotiated the sale of a 207,503-square-foot industrial building in the St. Louis industrial market. Pricing was not disclosed.
The fully-leased building at 687 Fee Fee Rd. in Maryland Heights, MO, was purchased by World Wide Technology, one of the building’s two long-term tenants. The seller was Fee Fee Investments.
Chicago-based Erik Foster and Mike Wilson worked in conjunction with Avison Young principals Tim Convy and Steve Stradal of the firm’s St. Louis office to represent the seller. The buyer has been a tenant since 2011, and now occupies 76% of the property.
“This is a mission critical location for World Wide Technology, which already has a significant footprint in the St. Louis market,” said Foster. “Given the shortage of industrial assets in St. Louis, and many markets across the country, it’s important for investors to move quickly to lock-in these opportunities.”
For comments, questions or concerns, please contact Paul Bubny