Point Acquisitions and Mitra Investment Partners acquire St. Louis warehouse
Point Acquisitions and Mitra Investment Partners have initiated a joint venture in St. Louis, acquiring 11142-54 Lindbergh Court, aiming to modernize the property amid a thriving warehouse submarket.
According to CoStar, the St. Louis South County warehouse submarket operates near full capacity, with a 1.0 percent vacancy rate. Compared with the broader St. Louis market, where average rents hover at $7.00/square foot, this submarket commands a premium at $8.10/square foot — a 5.0 percent uptick from last year and an 18.4 percent cumulative increase over the last three years.
Using their web-based i-buyer platform, Point Acquisitions was able to successfully acquire the property. Mitra Investment Partners is getting ready to implement a significant upgrade strategy, which will center on bringing contemporary improvements to the property and raising rental rates.
“This partnership signifies a promising step into the commercial real estate sphere, with a specif