Bamboo Equity Acquires MO Office Asset
- Jan 16, 2018
Bamboo Equity Partners’ Bamboo Micro Opportunity Fund I LP has acquired an office property in Maryland Heights, Mo. This acquisition marks the first purchase for the fund in Maryland Heights and the second overall.
Located at 11960 Westline Industrial Drive, the building features 93,000 square feet across three stories. Built in 1971, the asset is currently 72 percent occupied to tenants including Lindenwood University, Kantar Health and professional staffing service YOH. The company plans to attract new tenants and upgrade the property to make it more energy efficient. The building is within close proximity to interstates 270 and 70, the Page Extension, Highway 141 and Lindbergh Boulevard. The asset is also located near Westport Plaza, formerly a restaurant and entertainment spot in St. Louis County, which was revitalized and includes a new $75 million World Wide Technology headquarters.
“Bamboo is very excited about this acquisition in the Westport Plaza area,” said Dan Dokovic, principal of Bamboo, in prepared remarks. “With its proximity to highways and the airport, and considering the surge in investment we’ve seen in Maryland Heights, the building on Westline represents a great opportunity for our fund and for potential tenants.”
Last year the fund acquired 10777 Sunset Office Drive, a medical office building in Sunset Hills, Mo., and a third acquisition for the Micro Opportunity Fund is expected for next month.
Image courtesy of Yardi Matrix