1227 Washington Ave
Saint Louis, MO 63103
Warehouse 7 Loft Apartments · Multifamily Property For Sale · 30 Units

Marcus and Millichap is pleased to present for your acquisition consideration the Warehouse 7 Lofts at 1221-1227 Washington Street. This mixed-use asset offers investors the unique ability to acquire a pillar of the $5 billion renaissance in St. Louis’ Central Corridor. The 7-story structure has new plumbing, HVAC, windows, electrical, and flooring. Residents are offered exposed brick, low E thermal glass, warm Timber ceilings, Poplar moldings, polished concrete floors, solid Maple doors, and ceiling heights of 10-15 feet. There are spectacular views of Washington Avenue, the St. Louis nightlife hub, from several units. The building houses 10 modern floorplans created by M2 Architecture Studio in 36,000 square feet of residential space on the top three floors. The luxury of granite counter tops and cherry cabinetry make this blend of old and new complete. Warehouse 7 Lofts provides its residents the high standard they've come to expect from the revamped Downtown Loft District. In addition to the architectural highlights, amenities include in-unit washer & dryer, a rooftop pool and clubhouse with a community gas grill. Prospective tenants can select a loft with a spacious balcony. Below, local favorite Catalina’s will be on a new 10-year lease at close of escrow. Cardinals fans can travel ¾ of a mile to get to Busch Stadium or get a picture in front of the Gateway Arch just 1 mile from their doorstep. With both 1221 and 1227, floors 2-4 are home to Group 360. Retail space is located on the ground floor of 1221 and 1227. Apartments fill floors 5,6, and 7 in 1227 Washington, while the same space is luxury condominiums on 1221Washington. In December 2017, the St. Louis Business Journal announced that the redevelopment across the street is moving forward. The historic Jefferson Arms building is slated to become a 200-room Marriott hotel along with 200 singlefamily apartments. The project cost is set at $104,000,000. Nearby, the City Foundry has already been launched. The Foundry is the $340 million reimagining of a vacant manufacturing site with plans for office, retail, and housing. The bold redevelopment had early commitments from tenants like Patagonia, Reformation, Zara, and Need Supply. Despite its immense size, though, the City Foundry was not the initial spark that set off the rebirth of Midtown. A new IKEA, located immediately West of the City Foundry, is largely responsible for the economic boom. Opened late in 2015, the store is reportedly already hitting their $100 million sales goal. The IKEA project injected $110,000,000 into the area. Since then projects like BJC’s expansion ($1,000,000,000), Chouteau’s Greenway ($45,000,000 phase 1), the Shriner’s Hospital ($60,000,000), and other loft projects in the surround space ($200,000,000) have created an entirely modern space for generations to come. Additionally, the Cortex has continued to drive direct investment from groups across the U.S. Founded in 2002, the Cortex is a collaborative effort of Washington University, Saint Louis University, and BJC Healthcare. Since its inception as a technology and innovation hub, the project has generated 4,200 high-paying jobs. By late 2017, more than 1.7 million square feet of rehabbed space (along greater than $550,000,000 of investment) is due directly to the Cortex. Long term plans call for 15,000 permanent technology-related jobs and $2.3 billion of construction on the Cortex campus alone. All of this is within five miles of the subject property. The Warehouse 7 Lofts are the gateway to redevelopment in Midtown, not the endcap. This offering provides the perfect piece for live, work, play urbanism at the heart of one of the nation’s most dramatic rebirths in commercial real estate.