REO Monitor: Riverport Commons IV, St Louis

Bank of America’s OREO Division has recently listed Riverport Commons IV with Balke Brown Associates for $7 million, or about $60/sf.

Developed in 2001 by St. Louis-based TriStar Properties, the 117,000 square foot property was originally occupied by EDS and Magellan Healthcare. Magellan continues to operate a 30,000 square foot technical data center onsite.

According to Bank of America’s OREO posting, “this beautiful Class A tilt up office building offers users and investors alike value in a dynamic environment. The Riverport Commons IV Office Building offers its Tenants a full on-site fitness facility, Liberal parking of more than 6 cars per 1,000 square feet, efficient floor plates, and an ideal location in which to work and play. The 117,000 SF building is approximately 50% occupied by Magellan Healthcare whose headquarters is adjacent and has approximately 66,000 SF available for occupancy.”