4.19 Acres
47,000 sf Building
Mixed Use – Office over Retail
Tom Helmkampf partnered with Keat Properties to redevelop the high-profile corner of Price Road and Olive Blvd. in Olivette. This project required the acquisition of 8 individual properties that had different zoning requirements.
All the properties had to be surveyed, buildings had to be demolished and then the consolidated parcel had to go through a Planning and Zoning process which included Public Hearings and City Council approval for a new Planned Development which was the first in Olivette.
Tenant Interior
Also, due to the grade of the site, it required significant fill and storm water controls. Hundreds of truckloads of fill were hauled onto the site to raise the building pad and parking areas. A cost-effective solution for the storm water ended up being a combination of large underground storage under the rear parking lot and a small surface storm controls.
Tenant Interior
Due to the extraordinary site development and infrastructure costs, we pursued and received a TIF to help offset these costs. In the first year of the 17-year TIF this project generated $10,452 in Real Estate Taxes. The tax bill in 2023 was $244,242 providing an excellent return to the community.
Tenant Conference Room
Are you interested in investing in Commercial Real Estate or have 1031 money available for reinvestment?
HCS is very active in the local Bi-State Commercial Real Estate Development Market. We are always on the lookout for undervalued and value-added opportunities especially in the small to midsized warehouse market. This niche is a key strategy for strong returns as it generally requires lower initial and long-term re-tenanting costs.
- Existing industrial buildings, preferably built after 1980.
- Value-added opportunities, determined by a vacancy of 20%+, some curable obsolescence, or poor marketing/dealmaking.
- Transaction size of $1million - $5 million
- Single free-standing buildings or portfolios
- Single and multi-tenant buildings
- Sale and Lease Back or excess property situations
- Preferred markets are the St. Louis County Missouri, and SW Illinois
- Opportunity and Enterprise Zone Properties or other incentives that provide equity partners with additional tax opportunities.
Contact us today for a list of current opportunities or call 314-581-2667 to speak with Tom.