Search
 

BPG Buys 577,818-SF Office Complex for $75M

CLAYTON, MO-BPG Properties, Ltd., based in Philadelphia, purchases the 90%-leased Pierre Laclede Center from BayNorth Capital LLC of Boston.

By Dana Dubriwny | Updated on October 05, 2006

CLAYTON, MO-Philadelphia-based BPG Properties, Ltd., the real estate investment manager for Berwind Property Group, Ltd. and other major institutional investors, has dropped $75 million for the 577,818-sf Pierre Laclede Center in this suburb of St. Louis. The seller was BayNorth Capital LLC of Boston.

Joseph I. Neverauskas, senior vice president and head of BPG’s Midwest regional office, says the property is located a “vibrant, flourishing business district.” Located at 7701/7733 Forsyth Blvd., the complex occupies an entire city block at the west corner of Hanley Road, Forsyth Boulevard and Maryland Avenue.

Home of the St. Louis Club, Pierre Laclede Center consists of 16-story PLC I and 24-story PLC II. It is adjacent to the Clayton City Hall, Fire Department and US Post Office and is near the St. Louis County Courthouse and Government Center, several hotels, including the Ritz-Carlton, and more than 50 restaurants and shops. The complex is 90% leased to several tenants including RehabCare Group Inc., which recently signed a 10-year extension of its 71,477-sf lease.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.