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St. Peters, Mo. — Marcus & Millichap has brokered the $22.1 million sale of Cave Springs Shopping Center, a 176,804-square-foot power center located in the northwest suburb of St. Louis. The property — which is co-anchored by The Edge Fitness Club and Hobby Lobby — was fully leased at the time of sale to tenants including Office Depot, Cycle Gear and LongHorn Steakhouse. The sale included four individual, single-tenant, net-leased outparcel buildings.
Craig Fuller, Erin Patton and Scott Wiles of IPA sourced a local buyer in the 1031 exchange. David Saverin is Marcus & Millichap’s broker of record in Missouri.