St. Louis, MO/December 5, 2016 (STLRealEstate.News) An up-and-coming full-service Wisconsin real estate firm has its eyes on real estate available in the greater St. Louis metro region. Sara Investment Real Estate, a multi-faceted Midwestern real estate firm, this past week official acquired three West County office buildings in hopes to expand their reach on major metropolises in the central United States corridor. The acquisition officially happened this past Wednesday, though terms of the deal were not disclosed at this time.
The properties, located in a complex that embodies 1610, 1630, and 1650 off of Des Peres Road, have a combined appraised value of $24.5 million, according to the St. Louis County records.
Corporate Hill Associates, a business entity tied to Anthony Sansone Jr., co-founder, chairman and CEO of a local real estate investment firm Sangita Capital Partners, sold the closing transaction. TJ Redmond, a vice president of locally based CBRE, represented Corporate Hill Associates in the official closure.
The three buildings have a whopping 300,000-square-feet of Class A office space between them, are 68 percent occupied with tenants. Current residents of the buildings include Charter Communications, Bethesda Health Group, KPFF Consulting Engineers, and Gallagher Bassett.
This isn’t the first acquisition by Sara in the great St. Louis region. The real estate company is now on its fourth transaction, after having acquired the Chesterfield Exchange Building in Chesterfield Valley for about $15 million from the Danna brothers this past February. In 2015, Sara acquired the Nortek Global HVAC building in Wing Haven, a property valued at $5 million, and a 50,000-square-foot industrial building at 1533 Larkin Williams Road, in the Fenton Industrial Park, for close to $5.3 million from TJC Partners.
The Wisconsin realty firm said they are planning for $15 to $20 million in acquisitions in the coming year. The entity is led locally by CFO Luke Wolf, and is looking to keep expanding their operation.
Contributing Editor: Alexandra R. Fasulo
Copyright 2016 K Amant, LLC d.b.a. STLRealEstate.News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.