CBRE Facilitates the $6 Million Sale of St. Louis Industrial Property

CBRE arranged the $6 million sale of a 65,900-sq.-ft.-industrial property located at 2340 59th Street in St. Louis, Mo. CBRE’s Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo and Brian Bush represented the seller, MacHom Com St. Louis LLC, in the transaction.

The property is located in the South County submarket of St. Louis and is fully leased to a global telecommunications company. Built in 1962, the property has been home to the telecommunications company since 1990 and features 15 dock doors, 18’ clear height and secure, gated entry points.

“This property was sold to a 1031 Exchange Buyer that purchased all-cash. Private, high-net-worth capital continues to show strong interest in the Midwest markets, and our team is uniquely positioned to source that capital,” said Foley, first vice president at CBRE. “This investor sought to acquire an industrial asset leased to a credit tenant with ideally 10 years of remaining lease term that is located in a business-friendly state and that required minimal management responsibilities—and our building checked all five of these boxes.”

Located near Interstate-44 (I-44), the building offers convenient access to a robust interstate network, including I-55, I-64, I-70 and I-170, enabling the current tenant to service a five-state region efficiently.

According to CBRE’s industrial figures, in Q1 of 2025, the South County submarket recorded one of the lowest industrial vacancy rates among the eleven submarkets in Greater St. Louis, at just 1.3%. Additionally, there are currently no industrial buildings under construction in the submarket.