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  St. Louis’ Millennium Center, Shell Building sold
CATEGORY: PressREGION: MidwestPROPERTY: Millennium CenterPOSTED ON: January, 23 2008

ST. LOUIS | Sperry Van Ness says it has assisted in the sales of two high-profile office buildings totaling $6.69 million in St. Louis. They include the Millennium Center in the heart of downtown St. Louis at 515 Olive Street, and the 112,000 square foot Shell Building at 1221 Locust Street.

The Millennim Building sold for $4.1 million to New York-based Nassimi Realty.

Robert Kleinlehrer and Trey Buffington of Sperry Van Ness/Infinity Commercial Group in St. Louis represented the seller, Los Angeles-based 515 Olive LLC, while the buyer was not represented. The 20-story Class B building totals 226,200 rentable square feet and was 50 percent occupied at the close of escrow.

Built in 1962, the landmark property is located in the middle of St. Louis’s downtown revitalization projects, including the $450 million Mercantile Exchange retail and neighborhood project and the $650 million Ballpark Village mixed-use retail/entertainment/residential development by the Cordish Co.

The 12-story Shell Building, meanwhile, sold for $2.55 million to RSDB LLC of St. Louis. Kleinlehrer and Buffington represented the seller, St. Louis-based Shell Building LLC. Hal Hanstein and Ron Kramer of Cardinal Real Estate represented the buyer. Built in 1926 and featuring stunning architecture, the Shell Building was 85 percent occupied at the close of escrow and was once the headquarters for the Shell Oil Co.

Related Link: REJournals.com

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