Bamboo Equity Partners and Intelica CRE close on the sale of Festus retail center
Bamboo Equity Partners has sold Festus Centre, 19,182 SF of retail space at 330-356 Festus Centre.
The property sold for $2.78 million - Intelica's Drew Clary handled this transaction on Bamboo's behalf. Purchased in November 2015 at 76.2% occupancy, Festus Centre underwent a renovation in 2017. At closing on November 1, 2018, this retail space is now at 100% occupancy. Tenants include Berkshire Hathway, Edward Jones and Vantage Credit union - companies our Principal, Dan Dokovic, deems "Amazon proof."
Bamboo’s strong banking relationships allowed us to make an undervalued acquisition giving our investors an attractive basis to aggressively target solid tenants in the market,” commented Dan Dokovic. With 5 more properties under contract, Dan added that "We'll have a very robust closing to the end of the year."
For more about this deal, check out the full write up in the St. Louis Business Journal.