St. Louis, MO, March 02, 2016 --(PR.com
)-- Hilliker Corporation, a St. Louis owned and managed commercial real estate company, recently represented an investment firm with the purchase of a Chesterfield, Mo. strip center.
Mase, LLC purchased the 13,540-square-foot retail building at 17701 Edison Ave. for $2.7 million. The 10-year-old building is the former home of Ooh La La! home furnishings and is the current location for Pets & Co. and SSM Physical Therapy. Mercy Health plans to open a 4,700-square-foot urgent care center in June, and a 1,770-square-foot space will be available for lease.
Hilliker Corporation broker Will Aschinger represented the buyer, Mase, LLC and will assist with finding a new tenant for the 1,770-square-foot space. Gundaker Commercial broker Michael Hejna represented the seller, G.H.H. Investments, LLC.
This property’s purchase is part of a 1031 reverse exchange relationship, which involves acquiring a replacement property and trading a current property. The process is meant to help buyers who find a new property they would like to purchase before they are able to trade in a current property. This reverse exchange started with an investment property at 7874 Veterans Memorial Parkway, then the client purchased a South County property at 3900 Lemay for $2.3 million, then sold and reverse exchanged 7874 Veterans Memorial Parkway for $7 million, and now purchased the 17701 Edison Ave. property for $2.7 million.
Hilliker Corporation, which targets regional and national entrepreneurs, is St. Louis’ largest locally owned independent commercial real estate company located at 1401 S. Brentwood Blvd. The firm’s agents, who each average over 15 years of experience, have completed more than 10,000 sales and leases for industrial, office, retail and institutional clients since its inception in 1985. For more information, contact Will Aschinger at (314) 781-0001.