Bamboo Equity Partners is pleased to announce its acquisition of 717 Office Parkway. The former Reuters data and information center was purchased in a bank fforeclosure and totals 101,227 square feet atop 5.66 acres.
The property is situated in Creve Coeur, Missouri, one of St. Louis’ highest performing submarkets, where rents have continued to grow despite the pandemic. 717 Office Parkway is currently vacant, but Bamboo plans to add immediate value and experience to the office building through major capital improvements and strategic leasing.
The Bamboo team is no stranger to repositioning underperforming office assets, especially in this submarket. In 2018, Bamboo purchased 425 N. New Ballas Road and through major capital improvements was able to increase its occupancy by over 20% – a great example of how our team realizes a business plan for a property. The purchase of 717 marks Bamboo Micro Opportunity Fund II’s fifth purchase of the year.