Chicago & Midwest + Midwest + Industrial | July 15, 2019

St. Louis Industrial Trades to Out-of-State Buyer

Stan Johnson Company (SJC) has arranged the $14-million sale of Cassens Business Center, a multi-tenant industrial property in the St. Louis suburb of Fenton, MO. The 132,279-square-foot warehouse was fully -eased at the time of sale.

The property was sold by Green Street St. Louis, which was represented by SJC’s Zach Harris and Brad Pepin. The property was purchased by RCRL LLC, an individual investor based in Teaneck, NJ.

“Strong credit anchor tenancy, coupled with the net lease expense structure, strategic industrial location, and the high quality of the extensive recent building renovations were all factors that combined to make this property an attractive investment target for the out-of-state buyer,” said Harris, a director in SJC’s Tulsa office.

“The property is located in a dense industrial submarket in Fenton, near the intersection of Interstates 44 and 270, making it an ideal location in the St. Louis market,” he added.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).