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CityPlace 6, Creve Coeur, MO |
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| Jeff Bramson |
CHICAGO, IL - HFF announced today that it has been selected
to market the sale of CityPlace 6, a 223,960-square-foot, Class A office
building in Creve Coeur, Missouri.
HFF is marketing the property on behalf of the seller, an
affiliate of The Koman Group, for an undisclosed amount free and clear of debt.
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| Jaime Fink |
The
10-story office tower is located at the intersection of Interstate 270 and
Olive Boulevard surrounded by the affluent suburban communities of west St.
Louis County.
The CityPlace 6 income stream is anchored by a RockTenn
(S&P: BBB-) lease that covers 60 percent of the rentable square feet of the
property through December 2021 with contractual rent growth. The 91 percent leased property offers a
combination of being a high-profile asset with investment grade tenancy and a
premier location.
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| Mark Katz |
The
HFF investment sales team representing the seller was led by senior managing
directors Jaime Fink and Jeff Bramson and directors Mark Katz and
Daniel Kaufman.
“CityPlace 6 offers an investor an attractive and stable
yield for the next 8.5 years through RockTenn’s investment grade credit anchor
lease along with contractual rent growth,” said Fink.
The Koman Group (“TKG”) is a fully integrated real estate
developer and owner, managing all aspects of real estate investments from
inception to disposition.
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| Daniel Kaufman |
Since 1990,
TKG has developed more than $1 billion in new projects, structured more than
$800 million in mortgage-backed, preferred equity and joint venture financings,
and has performed construction, leasing, and property management for assets
totaling more than 5 million square feet.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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