Cortex Buys Pace’s Midtown Station
Date Posted: December 3, 2015
Posted In: Projects,
From St. Louis Business Journal: St. Louis-based Pace Properties has sold 3.5 acres initially intended for its Midtown Station development to Cortex.
Cortex President and CEO Dennis Lower said Cortex paid $3 million for the property. The deal closed Tuesday. According to city of St. Louis property records, the property has an appraised value of $1.69 million.
Lower said Cortex will sit on the land for now, though the land would be ideal for some sort of mixed use project in the future.
“It’s an important parcel as it relates to Cortex,” Lower said. “We’ll look for something with some scale to it. That could be tech-related building or maybe a mixed use project with some retail. We’re looking for something with some scale and density as opposed to just a single-story development.”