High-end Update for Conway Business Center
Intelica CRE, a commercial real estate services company, worked on behalf of real estate investment firm Bamboo Equity Partners to reposition an office complex at 15455 Conway in Chesterfield, MO, as a Class A property. Bamboo Equity Partners acquired the building in 2015 with the goal of creating a high-end commercial space that would attract tenants seeking access to interstate Highway 64 and the Chesterfield Valley, a high-growth commercial district in St. Louis County.
The building's low occupancy rate and outdated features made it a prime opportunity for Bamboo. "We look for buildings with potential," said Dan Dokovic, a principal at Bamboo. "Conway was an under-utilized property. We relied on Intelica to manage the construction and ultimately increase the occupancy rate. We achieved our goal of creating value." As of 2017, 15455 Conway boasts nearly full occupancy, and several tenants impressed with the space have requested additional build-outs.
Current tenants include Solid Gold Pet, Broda Seating, Resolutions Title and Property Asset Management. Solid Gold Pet enjoys a patio space for outdoor meetings, a large-scale wall mural with a pet theme, and a modern kitchen design. "We needed the space to reflect our business in a unique way," said President/CEO Bob Rubin. "We wanted our employees to love coming to work. Intelica helped us do that."
"It's clear the high-end finish and the care taken with this project have made a difference," said Molly Studer, Director of Property Management for Intelica, in a recent interview. Improvements made to the building include an energy retrofit, the installation of LED lighting and a digital directory. Intelica engaged its full complement of services for the project, including construction management, design, brokerage and property management.
According to Joel Meyer, a broker with Intelica CRE, the building's showpiece is its lobby, a large atrium with a white marble floor and prodigious natural light that pours in through two-story windows. "Everybody is amazed by the lobby," said Meyer. "The building had been completely transformed. It fills me with a sense of pride every time I see it."
Bamboo Equity Partners pursues a value-added strategy for property transactions ranging from $1mm-$10mm. Since 2011, their team of well-versed real estate professionals has worked with pension funds, advisors, high net worth individuals, endowments and sovereign wealth funds.
Intelica CRE is a full-service independent commercial real estate firm founded in St. Louis, MO. Based on the premise of intellectual capital, Intelica's services include brokerage services, property management, and client-specific strategic advisory services to owners, investors, and users of commercial real estate. Visit www.intelicacre.com for more information.