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"This is a great addition to our real estate portfolio that provides stabilized cashflow for our investment partners," said Christina Podoll Ballweg, vice president of investor relations.
ST. LOUIS, MO, February 14, 2019 /24-7PressRelease/ -- SARA Investment Real Estate, a full-service commercial real estate investment firm, has closed on the purchase of the Lakeside Crossing building in Maryland Heights at 11650 Lakeside Crossing. The building's main tenant is Spartech.
"This is our eighth property in the St. Louis region and our second addition in Maryland Heights," said Christina Podoll Ballweg, vice president of investor relations at SARA Investment Real Estate. "This is a great addition to our real estate portfolio that provides stabilized cashflow for our investment partners."
Lakeside Crossing is a 100% leased, 100,021 square foot industrial building situated on 5.41 acres. The property is in the newest part of the Westport submarket, a premier business park in St. Louis due to its central location and easy 20-minute access to the entire St. Louis metropolitan area. The building's research and development capabilities strategic to the main tenant Spartech's growth. The building functions as the corporate headquarters as well as its technology and innovation center. Spartech is a leading plastics manufacturer of custom plastic packaging, sheet and roll stock.
"We are excited to be expanding our presence in the dynamic Maryland Heights and Westport submarkets," said Jared Stinehagen, vice president of operations at SARA.
About SARA Investment Real Estate
With offices in Madison, Milwaukee, Minneapolis and St. Louis, SARA Investment Real Estate attains, develops, leases, finances and manages high-quality properties throughout the Midwest. SARA builds successful partnerships with investors, tenants, financial partners, other developers and employees to complete and manage quality projects. The firm provides commercial real estate asset management solutions to select investors through a network of wealth management partners. Founded in 1997, SARA manages properties valued at more than $260 million.
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