JLL Closes Sale of St. Louis Parking Garage for $8.15M
ST. LOUIS, Nov. 6, 2015 – On behalf of the Medve Group, a Dallas-based private real estate investment company, JLL’s Capital Markets experts today announced the firm has completed the sale of Park Express, a 1,760-stall parking garage located at 9050 Natural Bridge Road in St. Louis, Missouri. The garage, which is located just south of Interstate 70 and directly off of Interstate 170 was purchased for $8,150,000.
The 319,836-square-foot property was constructed in 1999. The property is comprised of three levels with 766 garage spaces each and 907 surface spaces with total land acreage of 16.5 acres.
Vice President Matt Berres led the JLL team on this transaction.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.