Local Investors Announce Major St. Louis-Area Real Estate Acquisition
ST. LOUIS, Nov. 10, 2023 (GLOBE NEWSWIRE) — A group of local investors, led by Jerry Kent and the Cequel III Family Office, today announced the acquisition of 10 premier office buildings in West St. Louis County, encompassing nearly 1 million square feet of rentable space. The seller and purchase price were not disclosed.
The acquired buildings include eight in the Maryville Centre office complex (520, 530, 540, 550, 625, 635, 645, and 655 Maryville Centre Drive) and two in the Woodsmill Commons office complex (400 and 424 South Woods Mill Road). St. Louis-based Cozad Commercial Real Estate will lease and manage the buildings.
“Approaching four years since the pandemic started, a growing number of companies have now established robust, hybrid work arrangements for their teams, resulting in more people returning to collective office space, part time or full time,” said Cequel III Managing Director Mike Pizzella. “As a result, we see viability in office demand going forward, and the top-notch facilities involved in this transaction are well positioned to benefit from that demand.”
“We are seeing a clear rebound in demand for the type of conveniently located, high-quality office space in these buildings,” said Cozad Commercial Real Estate President G.T. Cozad III. “Backed by our team’s over 35-year track record, we’re committed to providing current and future tenants a world-class experience with compelling amenities.”
Husch Blackwell acted as legal advisor to the buyers in this transaction.
About Cequel III Family Office
The Cequel III Family Office (cequel3.com) is a leading private investment firm that supports a variety of sectors, including real estate, healthcare, technology, and business services. With a focus on long-term value creation, the Cequel III Family Office partners with exceptional management teams to build strong companies that deliver superior products and services to customers and other stakeholders.
About Cozad Commercial Real Estate
Cozad Commercial Real Estate (cozadgroup.com) was established in 1987 for the purpose of assisting companies with their commercial and industrial real estate needs and owners with their property management needs. Cozad has grown to become one of the top-producing real estate and property management companies in St. Louis.
Contact: Pete Abel, 314-720-3129, pete.abel@cequel3.com
