**CBRE Facilitates $6 Million Sale of St. Louis Industrial Property**
CBRE has successfully arranged the $6 million sale of a 65,900-square-foot industrial property located at 2340 59th Street in St. Louis, Missouri. The transaction was managed by CBRE’s Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo, and Brian Bush, who represented the seller, MacHom Com St. Louis LLC.
The property is situated in the South County submarket of St. Louis and is fully leased to a global telecommunications company. Originally constructed in 1962, the facility has housed the same tenant since 1990. Key features of the property include 15 dock doors, 18-foot clear height, and secure, gated entry points.
“This property was sold to a 1031 Exchange Buyer that purchased all-cash,” said Kevin Foley. “This investor sought to acquire an industrial asset leased to a credit tenant with ideally 10 years of remaining lease term that is located in a business-friendly state and that required minimal management responsibilities — and our building checked all five of these boxes.”
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