Deal for new library located at 2201 S. Brentwood Blvd. closed July 31, 2024
Hal Ball Video Transcript
[00:00:00.28] - Hal Ball
Hello, Hal Ball here with Hilliker Corporation Commercial Real Estate. And today, I am in downtown Brentwood, Missouri, just up the street from O. B. Clarke's. And yes, we sold another building. About nine months ago, the Brentwood Library approached us to find them a new facility. We canvas the market and found this to be an ideal location. But the sellers had an aggressive price of $3.7 million on the property, which was not going to happen. So after some time in some negotiation, we got them down to $3.2 million and went under contract. And that was just the beginning because Brentwood Library needed bond finance. So after we did our due diligence studies on the property to make sure everything was okay, and we did the pricing to expand the facility to make it work, we had to go to the Citizens of Brentwood to get a popular vote passed to pay for the finance. During this whole time, we had to convince the sellers that this was all going to work. So fortunately, the Brentwood community embraced the project and the vote passed. We then had Stiffle go out and create and rate the bonds, which we sold about two weeks ago.
[00:01:11.28] - Hal Ball
And now this morning, we are closing on the building and it's a win. Hey, look, here comes Gina Gibbons, the Director of the Brentwood Library. How are you today, Gina? Good seeing you. Hey, how?
[00:01:21.29] - Gina Gibbons
Oh, I am wonderful. We could not have been more pleased with this whole process. We are so excited to move to this lovely facility. After more than 60 years of being in the bottom level of City Hall, we finally get to expand into this beautiful new building.
[00:01:41.01] - Hal Ball
That's great. When do you think it'll be finished?
[00:01:43.01] - Gina Gibbons
2026 is when we expect to open to the public.
[00:01:46.28] - Hal Ball
So that's great. Well, we at Hilliker always love a storybook ending. We love working with you, Gina. And a happy ending. Speaking of happy endings, Gina, isn't it about storybook time, down reading time, down at the library?
[00:02:00.10] - Gina Gibbons
It is storybook time.
[00:02:01.15] - Hal Ball
I brought my book. Let's go. Let's go. Okay. And we will see you with the next great Hilliker 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.