Lincoln Property Company has recently recapitalized and refinanced The Sevens, a 197,311-square-foot Class A office building in Clayton, Missouri. The property was originally acquired by Lincoln in 2015 through a joint venture with Stockbridge.
The company successfully backfilled one of its two full floors previously occupied by Riot Games with NUSO, a multi-national communications-focused Software as a Service provider. This lease agreement was signed for the entire floor with minimal downtime. Currently at approximately 73% occupancy rate, the building continues to attract tenants from various industries such as financial services and legal firms.
“We are delighted to have completed the recapitalization and refinancing of The Sevens,” stated Peter Kelly, Executive Vice President at Lincoln Property Company. “Our strategy is to develop and deliver market-ready suites while also making improvements to common areas in order to meet high demand in one of the Midwest’s most sought-after submarkets.”
Originally built in 1971 but extensively renovated in 2017,the property boasts top-of-the-line amenities including proximity to Clayton’s MetroLink rapid transit station just two blocks away. Its location near Forest Park Parkway/I-170 interchange provides easy access into and out of Clayton CBD area.The management will continue under Lincoln while Cushman & Wakefield will handle leasing duties for this premier office space.
This article first appeared on Connect CRE .
