Office Investment/Redevelopment Opportunity across from MLS Stadium

Highlights:

• Office Investment or Redevelopment Opportunity with Irreplaceable Location
• DIRECTLY Across Olive Street from NEW MLS Stadium
• +/-45,200 SF of Building and +/-0.80 AC Parking Lot w/ Development Potential
• Located in an Opportunity Zone
• Historic Tax Credits Potentially Available
• Multiple Investment/Redevelopment Strategies

Description:

Salient Realty Group is pleased to exclusively offer this office investment or redevelopment opportunity for sale. An incredibly rare opportunity to purchase a historic office building with an 0.80 AC gated parking lot in the central corridor of the City of St. Louis. The property location is irreplaceable being directly across Olive Street from the new MLS Stadium (Energizer Park) and is nearby to the new NGA facility (3,000+ Federal Employees). In addition, an incredible amount of development activity is taking place all around the property in the Downtown West area.

While the property is currently operating as an office building, it offers multiple opportunities for development/redevelopment strategies –Office Updates, Hotel, Multifamily, and Mixed-Use are all viable options. This is also a great owner-user opportunity for companies looking for a new headquarters in a dynamic location.

The existing buildings total approximately 45,200 SF. Included in the 45,200 SF is a single-story 8,500 SF building on Olive Street with a separate entrance. This single-story building is perfectly suited to be redeveloped into a bar/restaurant to serve the crowds entering and exiting the MLS Stadium.

DOWNTOWN WEST has seen an explosion of activity in the past few years. Most notably, Energizer Park, the new Major League Soccer Stadium is directly across Olive Street.

This has been a major draw for development and for new businesses flocking to the area. Even before the stadium was announced, many businesses decided to move into the area, such as Twain Financial Partners, who redeveloped the property at 20th and Washington Avenue as their new headquarters.

Multiple apartment redevelopments have been successfully completed – Monogram on Washington, Adler Annex, the Lofts at the HUPP, the Beatrice, and multiple others.

Development/redevelopment opportunities have become increasingly rare in the area. In addition to all of this, just to the North of the neighborhood is the new headquarters for the National Geospatial Agency. This Federal project is underway and has a projected cost of $1.75 Billion. The Agency currently has 3,000+ high paying jobs and that number is expected to increase over the next few years.

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