Habitat for Humanity Saint Louis has announced that it is publicly listing its property and buildings for sale as of Monday, July 11, 2016. Newmark Grubb Zimmer has been retained as a broker agent.
The property is located at 3763 Forest Park Avenue in St. Louis. It sits on 1.5 acres and consists of multiple buildings ranging in size from 10,750 SF +/- to 25,600 SF +/- with a total of 52k +/- SF and 342 +/- feet of Forest Park Avenue frontage. The property houses Habitat for Humanity Saint Louis’ Administrative Offices, ReStore Forest Park and a Construction Warehouse. It is just east of the Cortex Innovation Community and Washington University Medical Center complex and across from IKEA.
Newmark Grubb Zimmer has set a 30-day call for offers (with no list price) ending Friday, August 12, 2016. The listing does not obligate Habitat for Humanity Saint Louis to sell.
Habitat for Humanity Saint Louis Chief Executive Officer, Kimberly McKinney offered, “In a continued effort to be good stewards of the organization’s assets (whether that asset is a donation or, in this case, our building), Habitat for Humanity Saint Louis is exploring a relocation that would allow the organization to maximize the value of real estate occupied since 2002 in order to further our mission to provide decent and affordable housing. All Habitat Saint Louis functions currently operating on Forest Park Avenue – the ReStore, the Construction Warehouse and the Administrative Offices – will continue to operate during this time of due diligence. If a relocation is deemed to be appropriate, all three functions will continue to operate in a new location.”
“Given the exciting, new commercial development around us, we have an obligation and responsibility to move forward and determine what our assets are worth,” emphasized Habitat for Humanity Saint Louis Board President, Marc Hirshman.
Mike Carlson, Executive Managing Director-Principal of Newmark Grubb Zimmer added, “Habitat for Humanity’s current site, being right on Forest Park Parkway, is truly the last premier redevelopment site in the corridor that connects BJC to SLU. Then of course, in between you have CORTEX, the CWE and IKEA. This is the hottest area in St. Louis for multifamily and commercial real estate in general. We expect extremely high interest from possible buyers.”
For media inquiries, please email Maxine Goldstein or by phone at 314-578-1719. Questions regarding the listing should be directed to Mike Carlson at Newmark Grubb Zimmer, mcarlson@ngzimmer.com or 314-628-0438.
About Habitat for Humanity Saint Louis
Habitat for Humanity Saint Louis (HFHSL) is a not-for-profit, ecumenical housing ministry working in partnership with individuals and communities of all faiths to improve housing conditions and provide safe, decent and affordable housing in St. Louis City and County. With nearly 400 homes already built or rehabbed, HFHSL is one of the leading housing developers in St. Louis. HFHSL regularly ranks among the top Habitat for Humanity affiliates in the country. HFHSL donors, volunteers, and partner families work side-by-side to build or rehab homes ensuring that every deserving family in St. Louis has a decent place to live.
In addition to a down payment and a 30-year affordable mortgage, each HFHSL homebuyer invests 350 sweat-equity volunteer hours into building or rehabbing a home and attending life skills classes. Homeowners are teachers, healthcare providers and returning college students determined to achieve homeownership and create a legacy for their families.
HFHSL’s two ReStores sell new and reusable construction and home remodeling supplies. The mission of the ReStore is to provide additional financial resources to HFHSL; expand opportunities to serve a broader base of the community by providing low-cost materials; and provide good stewardship of sustainable resources within the St. Louis MSA.
Habitat for Humanity Saint Louis: Building Homes, Building Hope, Building St. Louis.
For a PDF version, click here.
