Wilson Commercial Real Estate Completes Acquisition of Bank of America Plaza in St. Louis, MO for $47.85M

ST. LOUIS, MO – FEBRUARY 1, 2010 – Wilson Commercial Real Estate, one of Southern California’s leading brokerage firms, has represented a Los Angeles-based private investor in the $47,850,000 acquisition of Bank of America Plaza, (centered photo below) a 30-story 749,857-square-foot Class A Trophy office building located in St. Louis, MO.

Geoff Tranchina (middle right photo) and Scott Tiano (middle left photo) of Wilson Commercial Real Estate’s Investment Sales Group represented the buyer in the transaction.

“Although the property was previously on the market, we were able to bring an unsolicited offer to the seller that was acceptable to their executive team,” said Tranchina.

 “In this environment, the most difficult aspect of getting an investment deal done is confidence with both parties. Buyers are concerned that the asset will be worth less in a week, and sellers are concerned that the property is being sold for too little.”

Tranchina went on to say that until pricing stabilizes in the broader marketplace, buyers will have to be able to effectively underwrite with limited comparable sales data to draw from with the belief that their assumptions are correct.

Located in the heart of the St. Louis commercial business district, Bank of America Plaza is 90 percent occupied by several national tenants including Bank of America, Price Waterhouse Coopers, and Ralcorp Holdings.

 The property features unobstructed panoramic views of the Gateway Arch, the Mississippi River and the City skyline and provides an unmatched amenity base inclusive of an on-site Bank of America retail branch, a full service cafeteria and covered access to the connected parking structure.

Geoff Tranchina and Scott Tiano, principals of Wilson Commercial Real Estate’s Investment Sales Group, closed more than $80 million in commercial investment sales in 2009. Tranchina and Tiano will focus in 2010 on conducting privately negotiated transactions between institutional sellers and professional, private investors.

Founded in 1990, Wilson Commercial Real Estate is has leased and sold over 6 million square feet of retail space with an aggregate consideration of more than $1 billion.

The company currently represents more than 8 million square feet of retail space in approximately 90 properties throughout West Coast. In 2008, Wilson Commercial Real Estate formed an Investment Sales Group that provides a complete range of investment sales services for their clients’ acquisition and disposition requirements.

For more information, please visit www.wcre.net / or call 800-630-4424.

Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com