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Kawa Acquires Ground Lease on St. Louis Office Tower
Kawa Capital Management has purchased the leased fee interest at One Metropolitan Square in St. Louis for $145 million from 601W. The parcel is home to a commercial office building that is 92% leased to 35 tenants in industries such as law, government, energy and architecture, among others.
The building has been owned and operated by 601W since 2005 and has been maintained as a best-in-class office space, providing strong in-place cash flow, long-term leases and credit tenants. This past summer, 601W executed a 20-year lease with the U.S. Department of Agriculture for 163,000 square feet.
“This ground lease represents the continued success and expansion of our Ground Lease 2.0 platform,” said Michael Corridan, managing director, Kawa. “One Metropolitan Square is a prime asset in an ascendant St. Louis market and the ground lease provides the new owner a tremendous platform for further growth.”
- ◦Sale/Acquisition