June 13, 2017 (St. Louis, MO) – SARA Investment Real Estate, a full-service commercial real estate investment and brokerage firm, has closed on the purchase of One Progress Point Parkway, a three-story office building in O’Fallon, Missouri.
The LEED Gold-certified building was constructed in 2009 and is conveniently located off I-64, the main east-west thoroughfare to Chesterfield, Town and Country, Clayton, and the St. Louis central business district. The 123,278 SF building is currently 81% occupied with existing tenants including Allianz USA and Chubb Limited.
Progress Point is SARA’s fifth commercial property acquisition in the St. Louis market. SARA has been actively seeking attractive commercial investment opportunities in the St. Louis market since entering the market in 2015.
“We’re pleased to add Progress Point to our growing portfolio in St. Louis and look forward to working with its existing and future tenants,” said Jared Stinehagen, SARA’s Vice President of Operations. “We believe St. Louis is an attractive market, benefiting from several economic growth drivers including the presence of several Fortune 500 companies in high-growth industries and growth in its manufacturing sector.”
About SARA Investment Real Estate
With offices in Madison, Milwaukee, Minneapolis and St. Louis, SARA Investment Real Estate attains, develops, leases, finances and manages high-quality properties throughout the Midwest. SARA builds successful partnerships with investors, tenants, financial partners, other developers and employees to complete and manage quality projects. The firm provides commercial real estate wealth management solutions to select investors through a network of wealth management partners. SARA, founded in 1997, manages properties valued at more than $350 million.
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