3501 TREE COURT IND. DRIVE, ST. LOUIS, MO

Overview:

Stone Bridge invested in the acquisition of 3501 Tree Court Industrial Drive, a single tenant property located in St. Louis , MO.  The property totals 52,500 rentable square feet and is 100% leased to Shillington Box, LLC.

Shillington Box has been in business since 1906 and is currently a subsidiary of Royal Box, which is a division of Schwartz Group.  Royal has 14 other box plants, and has been in business for almost a century.  Schwartz Group is a vertically integrated provider of boxes, with interests in many related industries, including paper mills, corrugated paper, trucking and insurance.  Shillington Box makes cardboard boxes for a total of over 500 customers.

The factors that made this an appealing investment include:  a purchase price below replacement cost,  the size and health of the local industrial market, and the size and diversified nature of the St. Louis MSA.

This was the second and final purchase for the investment fund, SummerStone Fund IV, which targeted income oriented properties.