ST. LOUIS—Many owners believe an online platform can dramatically streamline a commercial real estate transaction, and VFC Properties 41, LLC the owners of Park 270, a two-building office campus in the West County submarket of Metro St. Louis, are ready to give it a try. Ten-X, the nation's leading online real estate marketplace, will handle the sale of the 274,650-square-foot property located along I-270 by using its managed bid selling function. CBRE will assist Ten-X in marketing and selling the asset.

The managed bid function is a two-step process whereby interested parties submit sealed bids to qualify for a short list and then compete in a scheduled online auction. Bids for Park 270 are due Sept. 12 and the auction will take place October 5. Potential buyers can tour the property on Sept. 1 and Sept. 8.

Located at 1801-1807 Park 270 Dr., Park 270's two, five-story buildings were constructed in 1984 and 1987 and have 26 total tenants for a combined occupancy of 90.5%. Hub City Terminals, the largest tenant, recently renewed its lease for six years and expanded its footprint to about 80,000 square-feet. The asset is in the well-established Westport Plaza Corridor within the West County office submarket — St. Louis' largest and most popular suburban submarket, consisting of about 16.1 million square feet.