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INVESTMENT & DEVELOPMENT:
Acquisitions and Investment Strategy
St. Louis Industrial Properties
An investor group led by Nelson Grumney, principal of Neland Investment Management purchased a portfolio of seven industrial buildings in St. Louis County for approximately $13 million from Prologis, an international industrial real estate firm based in San Francisco, CA. The portfolio will be repositioned with upgrades for a variety of new market customer requirements. Ranging in size from 41,000 to 126,000 square feet and totaling 541,000 square feet, the office/warehouse, distribution and light manufacturing buildings are located in the Earth City, Westport and Brown Campus industrial sub-markets of St. Louis County.
Bellemore Center Village in Granite City, IL
Neland Investment Management, LLC acquired Bellemore Village Shopping Center from Bellemore Homes, Inc. which totals 106,571 square feet in Granite City, Illinois. The center was built in 1956 and is currently 100% occupied. Tenants include Save-A-Lot, Dollar General, Advanced Auto, Glik’s and Regions Bank. Neland Investment Management represented the buyer in the $5 million transaction. The financing was provided by Central Bank.
Sinclair & Rush, Inc.
Neland Investment Management, LLC structured the long term sale-lease back of 125,000 square foot heavy manufacturing building to Sinclair & Rush, Inc. in Arnold, Missouri.
Shoreline Real Estate, LLC
The acquisition from Mitek Corporation. Neland performed the due diligence, underwriting, financing and leasing of Shoreline Real Estate, LLC which was a 93,000 square foot office warehouse. The space was leased to EnviroPAK Corporation and the site is located in Earth City, Missouri.
Hertz Equipment Rental Corporation
Neland Investment Management, LLC developed and leased to Hertz Equipment Rental Corporation which is a leasing and service center complex totaling 12,000 square feet with a three acre site located in St. Peters, Missouri.
The development and subsequent leasing of three individual retail stores for MERS/Goodwill Industries totaling 34,000 square feet. The locations included Farmington, Missouri, Festus, Missouri and Springfield, Missouri.
Biltmore East, LLC
Neland Investment Management, LLC aquired Biltmore East, LLC and office industrial retail complex totaling 80,000 square feet and leased to Chuck’s Boots which is located in Fenton, Missouri.
Merrill Gardens Vero Beach, LLC
The sale of Merrill Gardens Vero Beach, LLC which was an Independent Living Facility totaling 100 units located in Vero Beach, Florida. The value of the transaction was $18,680,000. The Vero Beach facility was also developed by Neland and constructed by Pinnacle Contracting, Inc., a related entity.
Clayton Executive Office Building
The purchase, with a joint venture partner, of two office buildings totaling 154,000 square feet at Clayton Executive Center, 7980 Clayton Road and obtained a no further action letter on the property regarding its past environmental history. The value of the transaction was $20 million. Clayton Executive was sold to an institutional investor five years later.
Delphi Automotive Systems
Neland acquired, redeveloped and leased the 90,000 square feet building in North Kansas City, Missouri. Neland performed the $3 million renovation and transacted a long term lease with Delphi Automotive Systems.
Neland Investment Management, LLC developed a 30,000 square foot cross-dock facility for a Emery Worldwide, a national air freight carrier, at an off-airport site in Milwaukee, Wisconsin.
Clayton Mercantile Building (Hoffman Building)
Acquisition and reposition of a 200,000 square foot suburban high-rise office building in Clayton, Missouri. * Performed as a national Trammell Crow Partner.
Build to suit long term lease back of 41,000 square foot distribution building In Earth City, Missouri. *Performed as a national Trammell Crow Partner.
Mitsubishi Fuso Truck of America
Build to suit long term lease back of 90,000 square feet in Earth City, Missouri. *Performed as a national Trammell Crow Partner.
Millpark Office/Service Center
The acquisition and financing of the Millpark Technical Center a 58,000 square foot service center located in Maryland Heights, Missouri.