Baltimore, MD – The ABR and Fulcrum Asset Advisors joint venture which owns the Creve Coeur Office Portfolio in St. Louis, Missouri, has acquired West Park II–a six story, 134,164 square foot office building in suburban St. Louis. The asset is 63% occupied by twelve tenants and is the sister-property of the previously acquired West Park I building. Both properties are located within the West Park Office Park. The acquisition of West Park II increases the Creve Coeur Office Portfolio to three assets. ABR Chesapeake Fund IV, a value-add real estate fund sponsored by ABR, invested a total of $9.4 million in the joint venture.
In June of this year, the joint venture purchased the five-story, 98,588 square foot West Park I building and the three-story, 66,510 square foot Pine View Point building. The properties are situated approximately one-mile from each other along Olive Boulevard in the Creve Coeur area of St. Louis County.
ABR and Fulcrum intend to complete several value-add improvements, including curing deferred maintenance, landscaping enhancements and preparing vacant space for lease.
Alex. Brown Realty (ABR) is a privately owned real estate investment manager organized in 1972 and headquartered in Baltimore, Maryland. ABR co-invests with joint venture partners in a broad spectrum of property types located throughout the United States. www.abrealty.com
Fulcrum Asset Advisors, LLC is a Chicago-based, privately held real estate investment and operating firm that specializes in making and managing investments in office and industrial properties. www.fulcrumllc.com