Transactions - OCTOBER 8, 2014

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New Boston JV sells St. Louis campus

by Andrea Waitrovich

New Boston Fund and Koman Group have sold the 40-acre City Place campus in Creve Coeur, Mo., to joint venture partners NorthStar Realty Finance and Redico. A sales price was not listed on New Boston Fund’s website.  

The Koman Group developed the campus, and the mixed-use seven-building complex was the Koman Group’s flagship project, totaling 874,952 square feet. The properties range in age from 1989 to 2002. The development has grown considerably since construction on the $36 million first phase began during the late 1980s. The office space, shopping center, and residential area of the development include 11 buildings. Key amenities on the campus include a full-service fitness center, an auditorium, building conference centers, cafeteria, a training center, restaurants, structured parking and a 3-acre lake.

Major tenants include Microsoft, Lockton Cos., Daugherty Systems, Arch Coal, Booneville, New York Like, Monsanto and Marcone Appliance.

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