ST. LOUIS – The Wainwright Office Building, a prominent structure in Downtown St. Louis, has a new owner.
Arch to Park Equity Fund LLC is finalizing the purchase of the Wainwright Office Building. The state of Missouri has reportedly accepted an $8.25 million offer, according to liquidity services website GovDeals.com.
Local nonprofit Greater St. Louis, Inc. works in tandem with Arch to Park Equity Fund LLC, a patient capital real estate investment fund.
According to a news release Tuesday from Greater St. Louis, Inc., the state of Missouri has accepted an offer and customary negotiations are underway prior to closing the sale.
“St. Louis is the economic engine of Missouri, and restoring the core of St. Louis, particularly Downtown, is essential to the growth of our metro,” said Dustin Allison, GSL Chief Real Estate Investment Officer. “As part of our ongoing efforts to revitalize Downtown St. Louis, Arch to Park Equity Fund LLC is pleased to partner with the State of Missouri to ensure that one of the most architecturally significant buildings in Downtown St. Louis will be preserved for future redevelopment.”
The Wainwright Office Building is located at 111 North 7th Street, serving as the site for various state jobs for many years. Plans to sell the the building first became public in July.
“We look forward to working with the City and Downtown partners on a plan to develop the Wainwright Building and to continuing our partnership to revitalize Downtown and make it the safe, vibrant, and beautiful neighborhood at the heart of our metro,” said Allison.
