By Roxana Baiceanu
Franklin Partners has acquired a Class A office building in the St. Louis metro area from Scottrade Financial Services. After The Plaza in Clayton, which the company bought in fall 2017, Corporate Hill IV represents Franklin’s second office acquisition in the area.
CBRE’s Vice President TJ Redmond represented the seller in the deal, while Senior Vice President Mark Palmer and Vice President Artie Kerckhoff worked on behalf of the buyer. According to the brokers, “this was the only quality Class A option for a large corporate user of around 100,000 square feet or more” available in the West County submarket.
Corporate Hill IV is a six-story, 175,000-square-foot building located at 12800 Corporate Hill Drive, off Interstate 270 and near the West County Mall. Completed in 1984, the asset has been renovated twice since, with the latest upgrades being added in 2015. The property features a number of amenities which include a full-service cafeteria on the second floor, executive parking, fiber connection, one loading dock and exterior balconies.
According to real estate data provider Yardi Matrix, the glossy mid-rise was part of Scottrade’s portfolio for more than 14 years, having been bought in 2004 from LaSalle for $26.3 million.
Image courtesy of Franklin Partners