nextSTL has learned that Amerco Real Estate Company, a subsidiary of U-Haul closed on the long vacant 300K sf 1928 Art Deco styled National Candy Building and surrounding property in South St. Louis City. The complex had been on the market for at least five years. Several developers explored residential conversion, but found the building presented too many challenges.
U-Haul plans to restore the building, which is listed on the National Register of History Places, to operate as a storage facility. Current annual taxes on the complex totals just more than $39K. Listed for $1.9M, the final sale price was $1.5M. The building was previously owned by Imagine Schools. Ben Cherry, CCIM of Manor Real Estate represented ICC Investments, LLC in the sale.
U-Haul owns several prominent buildings in the City of St. Louis, including the former Magic Chef headquarters on S. Kingshighway, and the former Globe Drugs warehouse adjacent to Interstate 64 in downtown.
Property addresses included in the sale include: 4200 Gravois, 4204 Gravois, 4212-14 Gravois, 4230-32 Gravois, 4096 Meramec, and 4070 Bingham Avenue. The main warehouse is adjoined to a more recent single-story warehouse with loading bays. The smaller buildings at the corner of Meramec and Gravois are expected to be demolished.