1215 & 1224 Fern Ridge Parkway
Investor/User Office Portfolio | 2 Buildings | Immediate Value-Add Upside
Marketing description
Cushman & Wakefield’s St Louis Capital Markets team has been retained by Ownership as exclusive agent & advisor to offer for qualified investors the 100% fee simple interest in the 1215 & 1224 Fern Ridge Parkway (The Portfolio).
The subject properties contain approximately +/-110,123 SF of Class B suburban office space located in the heart of Creve Coeur. The complex is located off Olive Blvd. with direct proximity to Interstate 270, one of the major interstates in St. Louis. The building location allows tenants easy access to the many amenities located in Creve Coeur.
The portfolio is 64.8% occupied by 18 tenants over two separate buildings with a collective WALT of 2.96 years. The two anchor tenant(s) are government agencies: the Social Security Administration and the Office of Inspector General. They collectively account for 19.6% of total portfolio NRA and have over 19 years of tenure at the property. The portfolio also offers qualified buyers immediate value-add upside within a high demand submarket like Creve Coeur.
Investment highlights
- IMMEDIATE VALUE ADD UPSIDE UPON ACQUISITION
- OPTIMAL USER OPPORTUNITY
- STICKY ANCHOR TENANTS WITH SUBSTANTIAL TENURE (MULTIPLE GSA LEASES)
- PREMIER LOCATION WITHIN HIGH DEMAND SUBMARKET
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