TIC deal completed in St. Louis suburb

Investors attracted to strong tenant base

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ExchangePoint Properties LLC has completed the sale of a 93,985-square-foot retail center in St. Peters, Mo., to tenant-in-common investors. The value of the transaction was not disclosed. ExchangePoint made purchase arrangements with 16 TIC investors for The Crossings at Mid Rivers, which is located at 121-331 Costco Way. It was built in 2002 along with an adjoining Costco warehouse store. At the time of sale, the property was fully occupied by Marshalls, HomeGoods, Ultimate Electronics, Macaroni Grill and The Maytag Store. The retailers' leases are for varying lengths of time, with end dates ranging from 2013 to 2018. Beverly Hills, Calif.-based ExchangePoint Properties LLC is a real estate investment firm that offers fractional real estate ownership interests to individual 1031 exchange investors. ...