CHICAGO, Nov. 4, 2013 /PRNewswire/ -- Transwestern's Chicago office today announced it brokered the sale of Corporate Plaza on behalf of Invesco Real Estate. The 210,409-square-foot, five-story office building is located at 14528 S. Outer 40 in Chesterfield, Mo., and was purchased by an affiliate of Westport Capital Partners LLC for an undisclosed price. The property is 98 percent leased overall, with Mercy, a leading private, not-for-profit healthcare provider, occupying 89 percent of the building with its headquarters.
"We are thrilled to have completed this acquisition," said Sean Armstrong, a principal of Westport. "Mercy plays a vital role in providing healthcare to more than three million people annually. We look forward to supporting its mission as its landlord."
"There was significant interest in the property due to the credit of the anchor tenant and the location in the Highway 40/West County office market, which is highly sought after by investors," said Gary Nussbaum, managing director of Transwestern.
Corporate Plaza is a highly recognizable office development within the St. Louis West County submarket and offers the investor a rare, large block of space in a tightening market. It is well-positioned with high visibility and an accessible market hub for local, national and international tenants.
Invesco was exclusively represented by Transwestern's Nussbaum and Thomas Gorman, managing director, and David Matheis, senior associate, along with Balke Brown Transwestern's Principal Mike Donovan. Westport Capital Partners LLC represented itself in the transaction.
ABOUT WESTPORT CAPITAL PARTNERS LLC
Westport Capital Partners LLC is a real estate investment firm specializing in the opportunistic real estate arena. Westport provides domestic and international investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed and opportunistic real estate assets. The firm has offices in Los Angeles, CA and Wilton, CT.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.