Hello, Hal Ball here with Hilliker Corporation Commercial Real Estate. And today I am in the city of Sunset Hills in St. Louis County, Missouri. And yes, we sold another building. This is 12949 Maurer Industrial Drive. This is about a 41,000 square foot industrial building that we sold as an investment, bringing our buyer about an eight and a half percent annual return. You may recall my video from last month where we are in Old St. Charles and we sold the Hawthorne Retail center for about $3,000,000. Of those sellers wanted to reinvest their proceeds, so we located this property for them and closed on this last week for $2,430,000, or about $60 per square foot. The two tenants here, Mueller and Second Site, both have about four years remaining on their lease terms, and we were able to secure a bank loan at about 4.7% for this buyer to complete the sale.
This is going to be a great and secure investment for this buyer. Also, this buyer was smart enough to hire Hilliker Corporation as the property manager going forward. Again, that will be a hands off deal for them. The buyer is happy, the sellers are happy. That would be the Mauer family. This is the last asset that they sold in this park. And we at Hilliker are happy because we made another great deal. If you need an investment property here in St. Louis, please give us a call because we are really good at this. Otherwise, we’ll wait to see you with the next great dealer deal.
About Hilliker Corporation:
The Entrepreneur’s choice for commercial real estate services in the St. Louis region. Hilliker guides business owners through their needs at each stage of the business life cycle. Since 1985, Hilliker Corporation has brokered more than 10,000 transactions including sales and leases of industrial, office, institutional, retail and investment properties. To learn more, please call, (314) 781-0001.