Bamboo Closes on Sale of Industrial Investment Property
Bamboo Equity Partners, a leading private real estate investment firm of office and industrial properties based in St. Louis, has announced the sale of 5531-5555 Phantom Drive in Hazelwood, MO. The industrial/warehouse property is 100% leased to Motor Service Distribution & Service, Inc. and Wellfit Parts International Co.
Located in the Hazelwood/Airport Industrial submarket and in the new St. Louis Opportunity Zone, the property is along the highly trafficked Interstate 270, one of the major arteries of the city and provides excellent access north to south for St. Louis’ workers and commuters.
The 129,000 SF property sold to a publically traded REIT out of Boston, MA for $5.4 million. "Located in a vibrant Hazelwood industrial market, we took a vacant building we purchased out of bankruptcy and filled it to 100% occupancy. This was a successful full cycle transaction for our investors," explains Alice Benner, Principal and Managing Director.
Intelica CRE represented the seller, 5531 Phantom LLC, in this transaction. They managed the property while under Bamboo Equity Partners' ownership and will retain management of the property with the new owner.
Bamboo continues to actively seek investment opportunities throughout the Greater St. Louis area. For more information on Bamboo Equity Partners and investing with us, please visit bambooequity.com.
Read the St. Louis Business Journal's article on this successful closing here.