Intercontinental Real Estate Corporation and Golub & Company Joint Venture Acquires Westport Plaza in St. Louis
A joint venture of Boston-based Intercontinental Real Estate Corporation and Chicago-based Golub & Company LLC has acquired Westport Plaza, a mixed-use office/retail complex located in suburban St. Louis, Missouri. Terms of the transaction were not disclosed. Golub & Company will oversee the leasing and management of the property.
Westport Plaza, an approximately 700,000 square-foot mixed-use property located twenty minutes west of downtown St. Louis, consists of four office buildings complemented by dining and shopping establishments and two hotels on nearly 41 acres of land.
“Westport Plaza meets a growing demand for quality office space, superior amenities and convenient location,” said Michael Newman, President and CEO of Golub & Company. “We look forward to providing value to the tenants and the St. Louis business community through our expertise in leasing and management.”
The property contains approximately 500,000 square feet of office space, 170,000 square feet of retail space and 30,000 square feet of storage space. Office tenants at the property include Northrop Grumman, Travelers Insurance, WPP and Healthways. The retail component, a popular dining and entertainment destination for western St. Louis, includes Dierdorf & Hart’s Steak House, Coldstone Creamery, Starbucks, Ozzies, Pujols 5 and Panera Bread.
Andrew Cathlina, senior vice president of acquisitions and finance, represented Golub & Company in the transaction, with Thomas Taranto, Director of Acquisitions, Asset & Portfolio Management representing Intercontinental Real Estate Corporation “Westport Plaza is one of the most highly recognized projects in suburban St. Louis and is certainly a solid addition to Intercontinental’s U.S. Real Estate Investment Fund. We are pleased to partner with The Golub Company, an experienced operator with a successful track record in the region,” commented Taranto.
For leasing information, contact John Ferguson at 312-440-8800.
About Intercontinental Real Estate Corporation
Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects. Presently, Intercontinental owns and manages a portfolio in excess of $1.8 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects. More information is available at www.intercontinental.net.
About Golub & Company LLC
Chicago-based Golub & Company and its affiliates are active internationally in real estate development, acquisitions, asset and property management, leasing and corporate real estate services. Since its founding more than 45 years ago, the company has owned, leased or managed more than 30 million square feet of commercial and multifamily real estate properties. Golub & Company’s other investments in the St. Louis area include Creve Coeur Office Portfolio. Other mixed-use properties in Chicago include John Hancock Center and Lake Shore Place. More information is available at www.golubandcompany.com.